UMC - Tower Semiconductor Sends The Longs One Last Parting Gift Courtesy Of Intel

• The latest earnings report confirms TSEM is doing well, but that was not the most important development in recent days.
• INTC intends to acquire TSEM, subject to approval, for $53 per share, which some would argue is better for the former than the latter.
• While some may favor TSEM as an independent entity, there are several reasons why doing so may not be in TSEM’s best interest.
• The deal can be rejected or approved by shareholders and the latter looks to be the better option all things considered.

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