Intel buys Gaota Semiconductor at a premium of 60% and takes a fancy to its chip foundry capability._SMM
[Intel buys Gaota Semiconductor at a premium of 60%. On the evening of February 15, Beijing time, Intel Guan Xuan will buy Gaota Semiconductor (Tower Semiconductor), with a total value of more than $5.4 billion (about RMB 34.3 billion) at a cash price of US $53 per share. The purchase price of $53 is 60% higher than the current price of Gaota Semiconductor. As of Feb. 14, Gaota Semiconductor shares were trading at 33.13 yuan, with a total market capitalization of $3.577 billion (22.7 billion yuan).
Source: metal.com