Tech

Intel Nears Roughly $6 Billion Deal to Purchase Tower Semiconductor

Intel Corp. is near a deal to purchase Israeli chip firm Tower Semiconductor Ltd. for almost $6 billion, in accordance with individuals aware of the matter, in its newest transfer to bolster a plan to make extra chips for different corporations.

A deal might be unveiled as quickly as this week, assuming the talks don’t crumble, the individuals stated. The deal would probably embrace a hefty premium, given Tower’s market worth of roughly $3.6 billion; certainly, the shares soared greater than 50% in after-hours buying and selling on Monday after The Wall Avenue Journal reported on the anticipated takeover.

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