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Globalfoundries to take over IBM chip unit

International Business Machines Corp. has reached an agreement for Globalfoundries Inc. to take over IBM’s semiconductor operations, people familiar with the matter said.

IBM will pay Globalfoundries $1.5 billion to take the chip operations off its hands, one of the people said. Bloomberg News reported those terms in a story posted Sunday.

http://www.marketwatch.com/story/globalfoundries-t...