Intel nears $6 bln deal to buy Tower Semiconductor – source


Feb 14 (Reuters) – Intel Corp is close to buying Israeli firm Tower Semiconductor (TSEM.TA) for about $6 billion, a source familiar with the matter said, as the U.S. company looks to advance its strategy of contract manufacturing chips for other businesses.

A deal could be unveiled as soon as this week, the person said on Monday, declining to be named as the matter was private.

The potential purchase would deepen Intel’s presence in a space dominated by Taiwan-based TSMC , the world’s largest contract chipmaker. It also comes at a time when the global semiconductor shortage has hampered the production of everything from smartphones to cars.