The Strategist

AMD buys Xilinx for $35B


10/28/2020 - 02:44



AMD, the manufacturer of chips, signed the largest deal on acquisition in the company’s history – it is going to buy Xilinx for USD 35 bln. The giant, which will emerge once the deal is finished, will be led by Lisa Su, the first woman that topped the list of CEOs with the highest salary in the US.



needpix
needpix
US manufacturer of processors Advanced Micro Devices (AMD) has agreed with the competing company Xilinx on a USD 35 billion-worth acquisition deal, AMD stated in a press release. The new company is expected to be valued at around USD 135 bln; the deal will be closed in 2021.  

The deal will be fully paid in both companies’ shares. Shareholders of Xilinx will be offered 1.7234 AMD’s ordinary shares for each paper of the firm, that is, they will receive around $143 per an ordinary share of Xilinx, stresses AMD. 

Once the deal is finished, shareholders of AMD will own around 74% of the combined firm and 26% - of Xilinx.  

AMD's CEO Lisa Su, the first woman that topped the list of CEOs with the highest salary in the US, will head the new company. Xilinx’s Head, Victor Peng, will be responsible for strategic growth and business initiatives of Xilinx.

The contract means the biggest acquisition deal ever made by the US AMD, and promises creation of a firm with 13,000 engineers and a USD 2.7 billion R&D cost-sharing, writes FT. 

source: ft.com




More
< >

Wednesday, December 2nd 2020 - 02:49 ExxonMobil writes off $17-20B in assets

Tuesday, December 1st 2020 - 04:31 Apple gets €10M fine in Italy for misleading ads