Summary
Advanced Micro Devices, Inc. (AMD) announced a significant development in its proposed merger with Xilinx, Inc. The company has received clearance from China's State Administration for Market Regulation, a crucial step towards completing the acquisition. This regulatory approval removes a major hurdle for the transaction, bringing AMD closer to integrating Xilinx's complementary FPGA and adaptive SoC technologies. Furthermore, AMD has refiled its premerger notification with the U.S. Federal Trade Commission (FTC) and Department of Justice (DOJ) under the Hart-Scott-Rodino (HSR) Act. The waiting period under the HSR Act is set to expire on February 9, 2022, unless extended by requests for additional information. The company anticipates closing the merger in the first quarter of 2022, subject to the satisfaction of all closing conditions, including the HSR waiting period expiration.
Key Highlights
- 1AMD has received regulatory approval for the Xilinx merger from China's State Administration for Market Regulation.
- 2The U.S. Hart-Scott-Rodino (HSR) Act waiting period for the merger is scheduled to expire on February 9, 2022.
- 3AMD refiled its HSR notification with the FTC and DOJ on January 10, 2022.
- 4The company anticipates closing the merger with Xilinx in the first quarter of 2022.
- 5Completion of the merger remains subject to the expiration of the HSR waiting period and other customary closing conditions.
- 6This filing provides an update on the progress and expected timeline for the significant acquisition of Xilinx.