Source: Tech – South China Morning PostIntel Corp agreed to acquire Tower Semiconductor Ltd for about US$5.4 billion, part of chief executive officer Pat Gelsinger’s push into the outsourced chip-manufacturing business.Intel will pay US$53 per share in cash for Tower, according to a statement Tuesday. The offer represents a 60 per cent premium to Tower’s closing share price in US trading on Monday. The companies’ boards have approved the transaction, which they expect will close in about 12 months.Shares of Tower rose 42 per cent in…Read More