GlobalFoundries confidential filing of IPO breaks all reports of Intel wanting to purchase the company now going public

GlobalFoundries, one of the leading semiconductor manufacturing businesses, has earlier announced its plans of doing an initial public offering (IPO) and staying true to its plans the company has filed an IPO in confidentiality and according to reports the IPO is set to value GlobalFoundries at around $25 billion.

We have hearing rumours that Intel, the worlds leading chip maker and supplier will be buying off GlobalFoundries and incorporating it into its business. However, at the same time, there was a confirmation from GlobalFoundries that it has been planning to file an IPO for a longer period. And now that the news that GlobalFoundries has filed for an IPO surfaced online it’s all but confirmed that the organization has no plans of accepting the alleged Intel offer and wants to remain in the hands of its existing owners.

The company was initially founded by the manufacturing division of AMD and later sold to Mubadala Investment Company from Abu Dhabi. The investment company is strongly connected to Mohamed bin Zayed, who is also the crown prince of Abu Dhabi, and this makes the global line-up of semiconductor foundries operating from the Emirates.

The recent filing for IPO by GlobalFoundries and that the Emirate-owned silicon powerhouse is working with Morgan Stanley, Bank of America Corp., JPMorgan Chase & Co., Citigroup Inc., and Credit Suisse Group AG makes the upcoming IPO a sight to behold. According to reports, the manufacturer is preparing all of the needed paperwork and documentation to go public.

Coming to the alleged reports of intel offering to buy GlobalFoundries, it was stated that the US-based chipmaker wanted to purchase the organization for about $30 billion US. However, the pre-public trading valuation of GlobalFoundries is standing at $25 billion US, a figure close to the original offer. This means that the company’s final standing will ultimately cross over $30 Billion US.

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