Chipmaker GlobalFoundries files confidentially for U.S. IPO: Sources

GlobalFoundries Inc has filed confidentially with U.S regulators for an initial public offering (IPO) in New York that could value the chipmaker at around $25 billion, people familiar with the matter said on Wednesday.

The move is the clearest sign yet that GlobalFoundries, which is owned by Abu Dhabi’s sovereign wealth fund Mubadala Investment Co, is not eager to accept a potential tie-up with Intel Corp, which the Wall Street Journal reported last month was in talks to acquire the U.S. chipmaker.