Tower Semiconductor jumps on report of Intel nearing acquisition
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Tower Semiconductor (NASDAQ:TSEM) surged 44% in after hours trading on a report that Intel Corp. (NASDAQ:INTC) is close to a deal acquire the company for nearly $6B.
A deal could be announced as soon as this week, according to a WSJ report.

Israel-based Tower Semiconductor is scheduled to report Q4 results on Thursday. 
An acquisition of Tower Semiconductor would come after Intel (INTC) sold its NAND flash business to SK Hynix late last year for $7B after receiving Chinese antitrust approval.

A potential acquisition of Tower Semiconductor (TSEM) also comes after Intel (INTC) has said it intends on spinning off Mobileye this year in an IPO that could value the company at $50B.