That depends on how the contract was worded. Suppose intel actually sold physical stuff and had a contract to deliver 100k phones. If the company is sold before fulfilling the contract, the company who bought the phones might want the contract to hold and be fulfilled.
Making a contract fully void because “it’s no longer the same entity” is a recipe for scams: sign contract, get money, sell out, “sorry, we’re no longer ScamCo, we’re ScammCoop”.
That depends on how the contract was worded. Suppose intel actually sold physical stuff and had a contract to deliver 100k phones. If the company is sold before fulfilling the contract, the company who bought the phones might want the contract to hold and be fulfilled.
Making a contract fully void because “it’s no longer the same entity” is a recipe for scams: sign contract, get money, sell out, “sorry, we’re no longer ScamCo, we’re ScammCoop”.