Intel pays for its foundry expertise


For anyone doubting the ambitions of Intel Corp. to make chips for others, the company’s acquisition of Tower Semiconductor should dispel their doubts.

The deal reported by The Wall Street Journal on Monday evening and announced by the two companies on Tuesday carries an enterprise value of $5.4 billion and thus ranks as Intel’s fourth-biggest deal ever, behind acquisitions. from Altera, Mobileye and McAfee. But it tops the top two in terms of premium paid; the $53 per share in cash offered for Tower is 60% higher than the stock’s last closing price, compared to the 34% premium offered for Mobileye in 2017.


Wj

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