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According to WSJ, Tower Semiconductor (TSEM) approached by Intel Corporation (INTC)

  • February 14, 2022


StockTower Semiconductor Ltd.SymbolTSEM
Date Announced02/14/2022Source Wall Street Journal
TypeUnsolicited BidAcquiring Company/Person Intel Corporation
Date of Confirmation: 02/15/2022Price at Confirmation: $47.07
Potential Profit: 0.00%Annualized Profit: N/A

Intel Corp. (INTCis close to a deal to buy Israeli chip company Tower Semiconductor Ltd. (TSEM)  for nearly $6 billion, according to people familiar with the matter, bolstering a plan to make more chips for other companies.

A deal could be unveiled as soon as this week, assuming the talks don’t fall apart, the people said.


February 15, 2022: Intel Corporation (INTC) and Tower Semiconductor (TSEM), announced a definitive agreement under which Intel will acquire Tower for $53 per share in cash, representing a total enterprise value of approximately $5.4 billion.

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