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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.
Update(s):
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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