-=Tower Semi (TSEM) to be acquired by Intel (INTC) for $53.00 per share

• Update 4/25/22: Tower Semi shareholders approve Intel (INTC) merger at Extraordinary General Meeting; still subject to certain regulatory approvals and customary closing conditions

 

 

 Tower Semi to be acquired by Intel (INTC) for $53.00 per share in cash

• 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. The acquisition significantly advances Intel's IDM 2.0 strategy as the company further expands its manufacturing capacity, global footprint and technology portfolio to address unprecedented industry demand.
• Transaction creates a globally diverse end-to-end foundry to help meet growing semiconductor demand and brings more value to customers across the nearly $100 billion addressable foundry market.
• Acquisition accelerates Intel's path to becoming a major provider of foundry services and capacity globally, now offering one of the industry's broadest portfolios of differentiated technology.
• Highly complementary transaction brings together Intel's leading-edge nodes and scale manufacturing with Tower Semiconductor's specialty technologies and customer-first approach to deliver leading technology and manufacturing capabilities and enhanced value to customers globally.
• Transaction is expected to be immediately accretive to Intel's non-GAAP EPS.

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