AMD's $35 billion deal for Xilinx now expected to close in 2022

By Reuters

<div> <p> – Chip company Advanced Micro Devices Inc’s $35 billion all-stock deal for peer Xilinx is now expected to close in the first quarter of 2022, delayed from a previous target of end-2021, the companies said on Thursday.</p> <p>“While we had previously expected that we would secure all approvals by the end of 2021, we have not yet completed the process,” the companies said in a statement.</p> <p>Shares of <span class="caps">AMD</span> were marginally up in trading after the bell, while those of Xilinx fell 3.6%.</p> <p><span class="caps">AMD</span> announced the deal in October, intensifying its battle with chief rival Intel Corp in the data center chip market.</p> <p>Amid U.S.-China tensions, chip deals face approval challenges from Chinese regulators, who are known for their lengthy and sometimes opaque antitrust reviews.</p> <p>“Our conversations with regulators continue to progress productively, and we expect to secure all required approvals,” the companies said.</p> <p>Chip designing peer Nvidia Corp has been struggling with getting regulatory approval for its deal for UK-based chip firm <span class="caps">ARM</span> Ltd, with the U.S. Federal Trade Commission earlier this month suing to block the deal over competition concerns.</p> <p/> </div>