Some investors are not happy that Intel agreed to sell the US a 10 percent stake in the company after Donald Trump attacked Intel CEO Lip-Bu Tan with a demand to resign.
After Intel accepted the deal at a meeting with the president, it alarmed some investors when Trump boasted that his pressure campaign worked, claiming Tan “walked in wanting to keep his job, and he ended up giving us $10 billion for the United States.”
“It sets a bad precedent if the president can just take 10 percent of a company by threatening the CEO,” James McRitchie, a private investor and shareholder activist in California who owns Intel shares, told Reuters. To McRitchie, Tan’s acceptance of the deal effectively sent the message that “we love Trump, we don’t want 10 percent of our company taken away.”
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