AMD, ATI merger inches forward

— 2:58 PM on September 7, 2006

Barring objections from stockholders or regulatory bodies, AMD's purchase of ATI will be finalized some time next quarter. However, the acquisition process has successfully gone through a number of steps to satisfy conditions for approval under U.S., Canadian, and German antitrust law. In the U.S., the Hart-Scott-Rodino Antitrust Improvements Act's 30-day waiting period, during which regulators can request additional information about the proposed merger, has expired. In Canada, the Commissioner of Competition has issued an advance ruling certificate for the acquisition under the Canadian Competition Act. As for Germany, where AMD's fabs are located, the buyout has been cleared by the Bundeskartellamt (German Federal Cartel Office.)

Next up is a September 13 court hearing in Canada where, among other things, the date of a meeting of ATI shareholders to approve the transaction will be confirmed. The meeting will take place in Toronto and is currently scheduled for October 13.

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