AMD's acquisition of Xilinx gets green light from China

AMD's acquisition of Xilinx gets green light from China

AMD's plans to acquire Xilinx appear to have crossed a significant hurdle as the Chinese market regulator has given its conditional approval. The news, reported by Reuters, means that the $ 35 billion all-equity deal now appears likely to accelerate towards completion. Last month, we told you that the timing had slipped to the first quarter of 2022, noting that Chinese regulators were watching very closely the anti-monopoly conditions to apply before approval.

The body China's regulator, the State Administration for Market Regulation (SAMR), said the deal will be approved under the condition that AMD and Xilinx do not force or discriminate customers who purchase certain products. In practice, China wants the merged entity to continue business as it did before the tie-up. This means that the sales of the respective parts will continue to be available in China without any restrictions. Also, an important point is that AMD does not limit or hinder Xilinx's continued work with other CPU and GPU architectures in any way. AMD must accept the legally binding conditions set by SAMR and the merged entity will continue to be under strict control of Chinese anti-monopoly laws.

AMD's purchase of Xilinx should be welcomed by investors, as it can help the company better compete in the data center market, to name an important business segment.

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We continue to make good progress on the regulatory approvals required to close our transaction. While we previously predicted that we would have all approvals by the end of 2021, we have not yet completed the process and now we expect the transaction to close in the first quarter of 2022. Our conversations with regulators continue to progress productively. and we expect to secure all required approvals.

There are no further changes to previously announced terms or plans regarding the transaction and companies continue to look forward to the proposed combination for creating a leader in the high performance and adaptive computing industry.

AMD and Xilinx currently anticipate that the closing of the merger will take place in the first quarter of 2022, compliant with the expiration of the waiting period under the HSR Act and satisfaction (or, to the extent permitted by applicable law, the waiver) of the circumstances indicated in the merger agreement which by their nature must be s or satisfied at the close of the merger.

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