I may be oversimplifying this
So IBM are currently leaking $1b-$2b each year thanks to their chip making business.
They tried to shift it to global foundries with $1b as a sweetener. Global foundries want $2 so they aren't losing money in the first year while they try and turn things around.
IBM said no, and so are going to hold on to the business, probably for another year or so, losing that extra $1b they didn't want to pay anyway, for nothing. Is that about the jist of i?