The approval sees AMD shares rise 11+% on 30th June.
Taken from Tom’s Hardware … The UK Competition and Markets Authority (CMA) today announced its approval of AMD’s plan to acquire Xilinx in an all-stock transaction worth roughly $35 billion.
The CMA didn’t offer many details about its decision at time of writing. “The CMA has cleared the anticipated acquisition by Advanced Micro Devices, Inc. of Xilinx, Inc.,” it said in today’s update. “The full text of the decision will be available shortly.”
AMD announced its plans to acquire Xilinx in October 2020. The deal would give AMD shareholders a 74% stake in the combined company; Xilinx shareholders would own the other 26%. Both companies’ boards of directors unanimously approved the deal.
The companies then announced in April that their shareholders “overwhelmingly” approved of the deal, and AMD said it expected regulators to clear the acquisition by the end of the year. The CMA’s decision brings that expectation closer to reality.
Source: Tom’s Hardware