Chip giant Intel Corp. (INTC) announced Tuesday a definitive agreement to buy Israeli chip company Tower Semiconductor Ltd. (TSEM) for $53 per share in cash. The deal represents a total enterprise value of approximately $5.4 billion.In pre-market activity on Nasdaq, Tower shares were gaining around 45 percent to trade at $47.87.The transaction is expected to be immediately accretive to Intel's adj...
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.