AMD-ATI merger clears federal hurdles in U.S., Canada, Germany
AMD today said that it has received approvals to acquire ATI from Canadian Commissioner of Competition and the German Federal Cartel Office. The company also announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has expired, which implies that the the Federal Trade Commission and the U.S. Antitrust Division of the Department of Justice have been properly notified of the transaction and do not intend to take action against it.
The merger between AMD and ATI was announced on 24 July of this year. Under the terms of the agreement, AMD will pay about $5.4 billion for ATI. The payment will consist of $4.2 billion in cash and 57 million shares of AMD common stock. The acquisition is expected to close in the fourth quarter of this year.