01—Abstract
Summary
Summary of the 8-K filed January 27, 2022. Cited figures are marked; the original filing is the authoritative source.
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.
02—Key points
Key Highlights
- AMD has received regulatory approval for the Xilinx merger from China's State Administration for Market Regulation.
- The U.S. Hart-Scott-Rodino (HSR) Act waiting period for the merger is scheduled to expire on February 9, 2022.
- AMD refiled its HSR notification with the FTC and DOJ on January 10, 2022.
- The company anticipates closing the merger with Xilinx in the first quarter of 2022.
- Completion of the merger remains subject to the expiration of the HSR waiting period and other customary closing conditions.
- This filing provides an update on the progress and expected timeline for the significant acquisition of Xilinx.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
This 8-K filing provides an update on the progress of AMD's proposed merger with Xilinx, Inc., specifically highlighting the receipt of regulatory approval from China and the status of the U.S. Hart-Scott-Rodino waiting period.
Has the merger with Xilinx been approved?
The merger has received clearance from the National Anti-Monopoly Policy Bureau of the People's Republic of China. However, it still requires the expiration of the U.S. Hart-Scott-Rodino waiting period and the satisfaction of other closing conditions before it can be finalized.
When does AMD expect the Xilinx merger to close?
AMD currently anticipates that the closing of the merger will occur in the first quarter of 2022. This is contingent upon the expiration of the HSR waiting period and the fulfillment of all other conditions outlined in the merger agreement.
What are the remaining conditions for the merger to close?
The primary remaining condition mentioned is the expiration of the waiting period under the U.S. Hart-Scott-Rodino Act, which is set for February 9, 2022. Additionally, all other conditions specified in the merger agreement must be satisfied or waived.
04—Continue