AMD’s $ 35 billion deal for Xilinx is now set to close in 2022

0
50

Chip maker Advanced Micro Devices’ all-share deal worth $ 35 billion (approximately Rs.260.025 billion) for peer Xilinx is now set to close in the first quarter of 2022, delayed from an earlier goal of late 2021, announced the company on Thursday.

“While we had previously expected that we would receive all permits by the end of 2021, we have not yet completed the process,” said a statement from the company.

AMD stocks rose marginally after the bell, while Xilinx stocks fell 3.6 percent.

AMD announced the deal in October, intensifying its battle with main rival Intel in the data center chip market.

Amid US-China tension, chip deals face approval issues from Chinese regulators, known for their lengthy and sometimes opaque antitrust reviews.

“Our discussions with regulators continue to be productive and we expect to obtain all necessary approvals,” said the companies.

Chip designer Nvidia struggled to get regulatory approval for its deal with British chip company ARM.

© Thomson Reuters 2021

LEAVE A REPLY

Please enter your comment!
Please enter your name here