But the nature of those negotiations may have been misunderstood.
Citing unnamed sources, Bloomberg today reported that IBM was willing to give GF $1 billion to take the chip manufacturing unit, but GF demanded $2 billion:
"IBM’s willingness to pay underscores the urgency for Chief Executive Officer Ginni Rometty to get less profitable businesses off the books," Bloomberg reported. "Even so, letting the deal unravel shows Rometty wasn’t willing to exit at any cost."
"With the talks breaking down, the chip-manufacturing business will continue to weigh on IBM’s profit. The unit loses as much as $1.5 billion a year, a person familiar with the matter said in June. Rometty is striving to meet 2015 earnings goals after nine straight quarters of falling revenue."
The story did not detail why IBM would choose to spend a chunk of change offloading the chip-manufacturing division, instead of shutting it down, though Bloomberg noted that, under the original talks, GlobalFoundries would have acted as a supplier for IBM's microprocessors.