AMD/ATI Merger Receives Merger Control Clearance in Taiwan
Advanced Micro Devices, Inc. and ATI Technologies Inc. today announced that the Fair Trade Commission of Taiwan has cleared the proposed acquisition of ATI by AMD. This is a good start, but by far not the end of the merger process!
The proposed acquisition, announced on July 24, 2006, still remains
subject to the approval of ATI shareholders, court approval of the plan
of arrangement, approval by the Minister of Industry under the
Investment Canada Act and other customary closing conditions. Subject
to satisfaction or waiver of these conditions, the transaction is
expected to be completed prior to the end of October 2006.
AMD and ATI also disclosed that they have agreed to a technical
amendment to the Plan of Arrangement that clarifies that the “Parent
Closing Stock Price” is the volume weighted average trading price,
rounded to the nearest cent, of AMD’s Common Stock for the 10 trading
days immediately prior to (but excluding) the effective date (as defined
in the plan of arrangement).
Comments are closed.