Intel buying Israeli chipmaker Tower Semiconductor for $5.4 billion

JERUSALEM, Feb 15 (Reuters) – Intel Corp signed a deal to buy Israeli chipmaker Tower Semiconductor (TSEM.TA) for $5.4 billion, the companies said on Tuesday, as Intel looks to further expand its manufacturing capacity and technology portfolio amid rising demand.

Intel is paying $53 per Tower share, well above a closing price of $33.13 on Nasdaq on Monday.

The transaction is expected to close in…

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News Source: https://www.reuters.com/technology/israels-tower-semi-shares-halted-amid-talk-firm-be-sold-intel-2022-02-15/

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