News Intel to buy Israeli chipmaker as it takes on Taiwanese rival CEO Pat Gelsinger is betting the purchase of Tower Semiconductor can help him compete with TSMC 15 February 2022 - 16:28 Ian King Picture: BLOOMBERG Intel has agreed to acquire Tower Semiconductor for about $5.4bn, part of CEO Pat Gelsinger’s push into the outsourced chip-manufacturing business. Intel will pay $53 a share in cash for Tower, according to a statement on Tuesday. The companies’ boards have approved the transaction, which they expect will close in about 12 months. Shares of Tower were up 43% during premarket trading in...