By Michele Maatouk
Date: Tuesday 15 Feb 2022
LONDON (ShareCast) - (Sharecast News) - Intel has agreed to buy Israeli chip company Tower Semiconductor in a $5.4bn deal.
Under the terms of the transaction, which is expected to close in around 12 months, Intel will pay $53 per share in cash.
Intel said the deal will accelerate its path to becoming a major provider of foundry services and capacity globally, "now offering one of the industry's broadest portfolios of differentiated technology".
It is expected to be immediately accretive to Intel's non-GAAP earnings per share.
Intel chief executive officer Pay Gelsinger said: "Tower's specialty technology portfolio, geographic reach, deep customer relationships and services-first operations will help scale Intel's foundry services and advance our goal of becoming a major provider of foundry capacity globally.
"This deal will enable Intel to offer a compelling breadth of leading-edge nodes and differentiated specialty technologies on mature nodes - unlocking new opportunities for existing and future customers in an era of unprecedented demand for semiconductors."
Tower CEO Russell Ellwanger said: "Together with Intel, we will drive new and meaningful growth opportunities and offer even greater value to our customers through a full suite of technology solutions and nodes and a greatly expanded global manufacturing footprint. We look forward to being an integral part of Intel's foundry offering."
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Currency | US Dollars |
Share Price | $ 31.06 |
Change Today | $ 0.34 |
% Change | 1.11 % |
52 Week High | $50.76 |
52 Week Low | $29.00 |
Volume | 36,799,147 |
Shares Issued | 4,228.00m |
Market Cap | $131,322m |
RiskGrade | 203 |
Strong Buy | 5 |
Buy | 4 |
Neutral | 31 |
Sell | 4 |
Strong Sell | 0 |
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Time | Volume / Share Price |
15:59 | 100 @ $31.08 |
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15:59 | 300 @ $31.09 |
15:59 | 100 @ $31.09 |
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