AMD Gains Antitrust Approval to Buy ATI

Advanced Micro Devices said yesterday it has gained approval from key U.S., Canadian, and German antitrust regulators for its $5.4 billion plan to buy Canadian chip set developer ATI Technologies. Antitrust approval for the deal, which has been billed as a major step forward for AMD in its battle against rival Intel, pushes the acquisition far closer to completion. But it still faces several smaller hurdles, including a vote of approval by ATI shareholders on October 13, and further scrutiny by regulators in Canada and Taiwan.

The companies expect the acquisition to close by November 30 of this year. ATI has to pay AMD a termination fee of $162 million if it backs out of the arrangement.

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News source: PCWorld

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