Last summer, the U.S. government became the largest shareholder in Intel, the flagging firm designated a national champion of the semiconductor industry by Presidents Joe Biden and Donald Trump. The Trump administration, which seems to have conceived of the idea for the acquisition, had little trouble convincing Intel CEO Lip-Bu Tan to accede to its terms; the deal seems to have been concluded during a single meeting at the White House on August 11. However, as a new lawsuit alleges, it seems to have been coercion, and not economic considerations, that produced such swift negotiation and easy agreement.
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