Can Globalfoundries-Chartered Compete With TSMC?

Will the expected Globalfoundries take-over of Chartered create a real competitor to TSMC?
Chartered's fab stable includes one 300mm fab and five 200mm fabs.

Globalfoundries' fab stable consists of a 300mm fab in production at Dresden, another 300mm about to come on-stream at Dresden, and a third 300mm fab which has just started being built in New York, and which is expected to come on-stream in 2012.

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