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

  • February 14, 2022

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. (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.

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.

For more details view Deal metrics

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.