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Intel turned to law firm Skadden in White House deal for 10% stake
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Intel turned to law firm Skadden in White House deal for 10% stake
Aug 25, 2025 9:06 AM

Aug 25 (Reuters) - Intel ( INTC ) was represented by law

firm Skadden in the chipmaker's agreement for the United States

to take an almost 10% equity stake deal in the company,

according to documents filed on Monday with the U.S. Securities

and Exchange Commission.

Skadden has represented Intel ( INTC ) in a string of high-profile

matters, including an $11 billion deal reached last year with

Apollo Global Management ( APO ) related to Intel's ( INTC ) new

manufacturing facility in Ireland.

Under Intel's ( INTC ) agreement with President Donald Trump's

administration announced on August 22, the U.S. will purchase a

9.9% stake in Intel ( INTC ) for $8.9 billion, or $20.47 per share, which

represents a discount of about $4 from Intel's ( INTC ) closing share

price of $24.80 on Friday.

Skadden was one of nine major law firms that had pledged

earlier this year to contribute a combined $940 million in free

legal services to causes supported by Trump, in order to head

off a White House crackdown on firms which the president had

accused of racial discrimination and acting against the

country's interests.

Spokespersons for Skadden, Intel ( INTC ), the White House and the

U.S. Commerce Department did not immediately respond to requests

for comment, including on whether the government was represented

by an outside law firm in the deal with Intel ( INTC ).

The deal puts Trump on better terms with Intel ( INTC ) CEO Lip-Bu

Tan, after the president recently said the CEO should step down

due to conflicts of interest. But Intel ( INTC ) said Monday the deal

could pose risks to its business, from potentially harming

international sales to limiting its ability to secure future

government grants.

Trump on Monday said he would pursue other deals with

companies similar to the agreement with Intel ( INTC ).

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