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AMD and Xilinx Merger Still on, Close Postponed to Q1 2022 -Breaking

by Mike Robinson

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© Reuters.

By Daniel Shvartsman

Investing.com – AMD & Xilinx (NASDAQ ) announce that AMD and Xilinx will be closing in Q1 2022.

“We continue making good progress on the required regulatory approvals to close our transaction,” the press release stated. We had expected to get all the approvals before the 2021 end, but we are not there yet. The transaction is now scheduled for closing in the first quarter 2022. Our conversations with regulators continue to progress productively, and we expect to secure all required approvals.”

pre-market tradingAMD saw a slight increase of.34% and Xilinx experienced a 1.7% drop on account of the longer timeline.

AMD announced the agreement in October 2020. This merger is all-stock. XLNX shareholders will receive 1.7234 AMD shares for every XLNX shareholder. This would make Xilinx’s share value approximately $251/share at current pre-market prices, compared to its current share price $210.2, which is a 19% spread. The spread is likely to be due in large part to doubts about whether China’s regulators will approve the merger.

AMD’s impressive turnaround continued in 2021. It grew 58% year-over-year as it threatens Intel’s market share, and continues to compete with Nvidia. Xilinx saw a 51% increase in value due to its main link with AMD’s share prices, spread notwithstanding.

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