In an effort to boost its manufacturing operations, Intel is nearing a deal to buy Israeli chip firm Tower Semiconductor for almost $6 billion, reports Reuters, citing a report from the Wall Street Journal. “A deal could be unveiled as soon as this week assuming the talks do not fall apart, the report said, citing people familiar with the matter.” It would likely include a hefty premium, given Tower’s market value of roughly $3.6 billion. Following the news, shares of Tower Semiconductor, which specializes in making analog integrated circuits, were up nearly 53% in extended trading while Intel was down 0.8%.

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Source: Slashdot – Intel Nearing Billion Deal To Buy Tower Semiconductor