IBM negotiations to sell its chip-making business failed: too low a bid-IBM-IT information IBM failed to sell its chip-making business negotiations: the bid is too low

According to Bloomberg, insiders say, IBM sold to Globalfoundries chip fabrication business negotiations have broken down, because the two sides couldn't agree on a price.

? IBM CEO Ginni Rometty

People familiar with the matter said, Globalfoundries's bid has been rejected by IBM because the price is too low. Globalfoundries believes IBM's factories are almost worthless, because the equipment is too old. Globalfoundries has its own factory in New York State.

Last month reported that Globalfoundries mainly interested in acquisition of IBM engineers and intellectual property, rather than a manufacturing facility. If the deal is successful, Globalfoundries will become IBM microprocessor supplier in the future.

The failure of the negotiations for IBM CEO woman (Ginni Rometty) is a big blow. She tries to peel low margin business sector, reversing the continuous revenue fell around 9 months way to achieve earnings targets for 2015.

IBM, Globalfoundries spokesman declined to comment. IBM's shares ended Friday at $ 194.40, or 0.4%. This year, IBM's share price has risen by 3.6%.