JERUSALEM (Reuters) -- Intel is buying Israeli chipmaker Tower Semiconductor for $5.4 billion, the companies said on Tuesday, giving it access to more specialized production and making it better positioned to take advantage of soaring demand for semiconductors.
Intel is paying $53 per share for Tower -- which specializes in analog chips used in cars, medical sensors and power management -- well above a closing price of $33.13 on the Nasdaq on Monday.
