10/27/2020, 11:55 AM (Source: TeleTrader)
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AMD to buy Xilinx for $35 billion

Advanced Micro Devices Inc., better known as AMD, announced on Tuesday it reached an agreement to acquire Xilinx for $35 billion in an all-stock deal.

Under the terms of the agreement, Xilinx stockholders will receive 1.7234 shares of AMD for every share of Xilinx's stock they own. Based on the exchange rate, this represents the approximate price of $143 per Xilinx share. The transaction has been approved by both companies' boards of directors and is now subject to customary shareholder and regulatory approval.

"Our acquisition of Xilinx marks the next leg in our journey to establish AMD as the industry's high-performance computing leader and partner of choice for the largest and most important technology companies in the world," AMD CEO Lisa Su stated.

Baha Breaking News (BBN) / MD