JERUSALEM (Reuters) – Shares in Israeli chipmaker Tower Semiconductor will not open for trading pending a report of a “material event” by the company, the Tel Aviv Stock Exchange (TASE) said on Tuesday.
Trading will open following the announcement, the TASE said.
A source said on Monday that Intel Corp is close to buying Tower for about $6 billion, as the U.S. company looks to advance its strategy of contract manufacturing chips for other businesses.
An Intel spokesman in Tel Aviv said the company does not comment on rumour and speculation.
(Reporting by Steven Scheer; editing by Jason Neely)
