Antitrust conditions and preliminary approvals of AMDs proposed acquisition of ATI have been cleared, and the transaction is expected to be completed during ATIs first quarter of fiscal 2007, which ends Nov. 30, 2006. The proposed acquisition remains subject to the approval of ATI shareholders, court approval of the plan of arrangement and certain other regulatory approvals.
A special meeting of ATI shareholders to approve the transaction is scheduled to be held on Oct. 13 in Toronto. A court hearing to confirm, among other things, the mechanics of the mailing of the Notice of Special Meeting and Management Information Circular, and the meeting date, has been scheduled for Sept. 13.
"We are pleased to pass through the HSR waiting period and receive clearance from the Canadian Competition Bureau and the German Federal Cartel Office," said AMD chairman/ceo Hector Ruiz. "We look forward to the October 13th ATI shareholder vote and additional regulatory approvals, and to merging the companies to drive growth, innovation and choice for our customers, partners and the industry."
"Our integration planning is underway and the more closely we get to know the team at AMD, the more excited we are about the opportunities and potential for the combined organization and our customers once the deal is completed," said David Orton, president/ceo of ATI.
Advanced Micro Devices (www.amd.com) is a leading global provider of innovative microprocessor solutions for computing, communications and consumer electronics markets. Founded in 1969, AMD is dedicated to delivering superior computing solutions based on customer needs that empower users worldwide.
ATI Technologies Inc. (www.ati.com) is a world leader in the design and manufacture of innovative 3D graphics, PC platform technologies and digital media silicon solutions. An industry pioneer since 1985, ATI is the world's foremost graphics processor unit (GPU) provider and is dedicated to deliver leading-edge performance solutions for the full range of PC and Mac desktop and notebook platforms, workstation, set-top and digital television, game console and handheld device markets.