M&A · Tech · Semiconductors & Related Devices
Intel Corp to acquire Tower Semiconductor Ltd
Announced Feb 15, 2022 · Terminated Aug 16, 2023
Deal value$5.40BEV $5.40B
Premium—To unaffected price
EV / Adj. EBITDA15.5x4.3x EV / Revenue
ConsiderationAll cash$53.00 per share
Transaction
- Acquirer
- Intel Corp (INTC)
- Target
- Tower Semiconductor Ltd (TSEM)
- Buyer type
- Strategic
- Offer price per share
- $53.00
- Enterprise value
- $5.40B
- Status
- Terminated Aug 16, 2023
Deal protections
Not yet read from the merger agreement.
Advisors
- To the acquirer
- Goldman Sachs
- To the target
- JPMorgan
Sector context · Tech
- Comparable deals
- 57 in the prior 24 months
- Premium
- Sector median 30.8%
- EV / Adj. EBITDA
- 15.5x vs. 17.8x sector median
- Break fee
- Sector median 3.0%
Timeline
- AnnouncedFeb 15, 2022
- TerminatedAug 16, 2023