Intel Agrees to $6 Billion Deal for Tower Semiconductor

Intel Corp. agreed to buy Israeli chip company Tower Semiconductor Ltd. for nearly $6 billion, bolstering a plan to make more chips for other companies.

Intel said early Tuesday that it would acquire Tower for $53 a share. That is a 60% premium to Tower’s closing share price of $33.13 on Nasdaq Monday, before The Wall Street Journal reported on the deal.