Intel-Tower Semiconductor
In its latest effort to expand its manufacturing capacity, Intel said it will acquire Tower Semiconductor for $5.4 billion. Israel-based Tower accepted Intel’s $53 per share offer, representing a 60% premium over a $33.13 closing price. Intel said it expects to close the deal within 12 months, pending regulatory approvals.
Tower Semiconductor promises to accelerate the goal of making Intel Foundry Services competitive with TSMC, the world’s largest chip manufacturer.
Jeffrey Schwartz’s story can be found here.
Tags:
