Intel going bankrupt tomorrow.
Intel Corp. agreed to buy Israeli chip company
Tower Semiconductor Ltd. for nearly $6 billion, bolstering
a plan to make more chips for other companies.
Intel said early Tuesday that it would acquire Tower for $53 a share. That is a 60% premium to Tower’s closing share price of $33.13 on Nasdaq Monday, before The Wall Street Journal reported on the deal.
Tower makes semiconductors and circuits used in everything from cars and consumer products to medical and industrial equipment.
It operates manufacturing facilities in Israel, California, Texas and Japan, according to its website. The company is based in Migdal HaEmek, in northern Israel near Nazareth.