The company is leaving its original home base in San Francisco for Austin, following similar moves by other tech giants.
The new terms reflect the difficulties of trying to do transactions that require approval in China and the surge in public market value of technology stocks.
Gelsinger is returning after 10 years away from the company to shepherd it out of a crisis threatening its leadership of the chip industry.
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The optical component maker said it didn't receive Chinese government approvals for the deal.
