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Strategies & Market Trends : Value Investing
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To: Elroy who wrote (71749)3/9/2023 10:46:45 PM
From: E_K_S  Read Replies (3) of 78817
 
RE: Intel's Merger w/ TSEM

also causing a delay in INTC's acquisition of TSEM.
Is this merger still in the works? The offer & approved is $53/share all cash. TSEM closed at $ $41.25/share.

Intel Takes Aim At Chip Shortages With A $5.4 Billion Takeover Of Tower

TSEM has a market Cap of $4.2 Billion, sells at a 19 Forward PE. TSEM is selling 30% below that offer price.

I think TSEM/INTL still waiting on China approval but not sure why they need that unless it is due to their sales into China. They have no foundries operated in China only a network of fabrication facilities in the U.S., Italy, Israel and Japan. The merger allows INTC to gain exposure to foundries outside the US.
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I was thinking of starting a position at/near $ 41.00/share

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