Intel nears roughly $6 billion deal to buy Tower Semiconductor

Intel Corp. is close to a deal to buy Israeli chip company Tower Semiconductor Ltd. for nearly $6 billion, according to people familiar with the matter, in its latest move to bolster a plan to make more chips for other companies.

A deal could be unveiled as early as this week, assuming the talks don’t collapse, the people said. The deal would likely include a hefty premium, given Tower’s market value of around $3.6 billion; indeed, shares soared more than 50% in after-hours trading on Monday after The Wall Street Journal reported on the expected takeover.


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