POTENTIAL DEAL DETAILS
|Stock||Tower Semiconductor Ltd.||Symbol||TSEM|
|Date Announced||02/14/2022||Source||Wall Street Journal|
|Type||Unsolicited Bid||Acquiring Company/Person||Intel Corporation|
|Date of Confirmation:||02/15/2022||Price at Confirmation:||$47.07|
|Potential Profit:||0.00%||Annualized Profit:||N/A|
Intel Corp. (INTC) is 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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