International Business Machines Corp. (IBM) has rejected an offer from Globalfoundries Inc. for its semiconductor-making operations, ending talks between the two companies, Bloomberg News reported Friday, citing people familiar with the process.

The Wall Street Journal in April reported that IBM initially was seeking more than $2 billion for the operations, with potential buyers at the time offering slightly more than $1 billion.

Full story at: www.bloomberg.com/news/2014-07-25/ibm-said-to-reject-globalfoundries-offer-for-chip-unit.html

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