Why Does Intel Want Tower Semi?

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3 years ago
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intel stock intc stock tower semiconductor tower semi stock tower semiconductor stock intel acquired tower intc acquires tsem tsem stock news tsem stock analysis intc stock analysis semiconductor stocks

Tower Semiconductor (TSEM) is towering higher today after agreeing to be acquired by Intel (INTC) for $53 per share in cash, a healthy 60% premium over yesterday's closing price. The deal, which was unanimously approved by the boards of both companies, is expected to be immediately accretive to Intel's non-GAAP EPS and should close in approximately 12 months.

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