AMD Refutes Reuters' Claim, Company Not Up For Sale

rated by 0 users
This post has 8 Replies | 1 Follower

Top 10 Contributor
Posts 25,676
Points 1,155,745
Joined: Sep 2007
ForumsAdministrator
News Posted: Tue, Nov 13 2012 7:54 PM
The Internet is abuzz this evening after Reuters ran an exclusive report claiming Advanced Micro Devices (AMD) had hired J.P. Morgan Chase & Co. to "explore options," including a potential sale of the company. You can imagine the sullen faces on AMD fans far and wide, and also those who favor healthy competition in the market place. There's just one problem -- AMD isn't shopping for a buyer, not for itself or for any of its assets, or so the chip maker says.

Reuters based its report on un-named sources who said a sale of the company wasn't necessarily a priority, but it was definitely looking at available options, such as selling some of its patents to the highest bidder. Given AMD's recent financial struggles, it at least seemed plausible that the company might look to raise cash by selling certain assets. After Reuters ran its report, shares of AMD surged 18 percent before things calmed down. In after hours trading, AMD stock is up 5 percent to $2.09.  Two dollars and nine cents. Yes, that's pretty much bargain basement for a big name semiconductor company.

AMD Headquarters

That said, it bears repeating that AMD is rejecting the notion that any of the sales talk is true. However, AMD has not come out and refuted that it's working with J.P. Morgan & Co. Regardless of everything else, AMD is still dealing with significant long-term debt, lease obligations, and an uncertain future as the PC industry shifts to mobile, all of which are reasons it may seek out financial advice and/or outside assistance.
  • | Post Points: 95
Top 10 Contributor
Posts 8,556
Points 103,035
Joined: Apr 2009
Location: Shenandoah Valley, Virginia
MembershipAdministrator
Moderator
realneil replied on Tue, Nov 13 2012 9:53 PM

I hope that they don't go under.

Dogs are great judges of character, and if your dog doesn't like somebody being around, you shouldn't trust them.

  • | Post Points: 20
Top 150 Contributor
Posts 653
Points 5,925
Joined: May 2008
Location: Stockholm
mhenriday replied on Thu, Nov 15 2012 2:56 AM

Agree with realneil here - what this branch needs is more, not fewer makers....

Henri

Top 10 Contributor
Posts 5,053
Points 60,700
Joined: May 2008
Location: U.S.
Moderator
3vi1 replied on Thu, Nov 15 2012 7:12 AM

Who would buy them? TI? There's no way a deal to sell to Intel would get approved.

What part of "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn" don't you understand?

++++++++++++[>++++>+++++++++>+++>+<<<<-]>+++.>++++++++++.-------------.+++.>---.>--.

  • | Post Points: 20
Top 150 Contributor
Posts 653
Points 5,925
Joined: May 2008
Location: Stockholm
mhenriday replied on Thu, Nov 15 2012 7:46 AM

But perhaps other parties than Intel might feel they could make a go of the business ? Or at least find some of its components of interest and worth purchasing ?...

Henri

Not Ranked
Posts 7
Points 35
Joined: Sep 2012

When I first read this, my heart sank.

AMD is innovative and should continue to be a part of this industry.

  • | Post Points: 5
Not Ranked
Posts 3
Points 15
Joined: Nov 2012
dwisen replied on Thu, Nov 15 2012 6:24 PM

Thank God!
I can't imagine what it would be like without AMD.

  • | Post Points: 5
Top 200 Contributor
Posts 354
Points 3,075
Joined: Aug 2012
Location: Canada

I want AMD to live. they have had tons of rough patches, but since the Athlon/Phenom days, things have kind of been going downhill.

Bulldozer was a big disappointment, and so is Piledriver.

We need AMD to live, and get their crap together, to make competition for intel.

If theres no competition, intel wont try and keep the technology booming, and we will see very insignificant performance jumps. :(

PC Specs:

  • AMD Athlon 64 x2 6400+  Cooled by a Cooler Master Hyper 212 Plus (push-pull)
  • 2GB DDR2
  • MSI Radeon HD 6450 2GB
  • Stock Dell motherboard
  • 250Gb HDD
  • XFX Pro Core edition 650W PSU
  • Stock Dell inspiron case

 

  • | Post Points: 5
Not Ranked
Posts 35
Points 235
Joined: Mar 2012

I've had AMD fit years, I can't see them going out of business. "un-named source"? Oh, you mean rumors?

  • | Post Points: 5
Page 1 of 1 (9 items) | RSS