AMD's Proposed Aquisition of ATI Receives Approval

by Marco Chiappetta — Friday, October 13, 2006, 09:00 AM EDT

AMD'S Proposed Acquisition of ATI Receives Approval Under Investment Canada Act

SUNNYVALE, CALIF. and MARKHAM, ONTARIO - Oct. 13, 2006 - Advanced Micro Devices, Inc. (NYSE: AMD) and ATI Technologies Inc. (TSX: ATY, NASDAQ: ATYT) today announced that the proposed acquisition of ATI by AMD has been approved by the Minister of Industry under the Investment Canada Act, satisfying one of the conditions to the closing of the acquisition.
"We are confident that our plans for the combination of AMD and ATI will deliver world-class customer-centric solutions and will benefit Canada and its future role in the technology industry," said AMD Chairman and CEO Hector Ruiz. "We look forward to the successful completion of the transaction that will generate new opportunities for both companies, the employees and the communities in which we operate."

The proposed acquisition, announced on July 24, 2006, still remains subject to the approval of ATI shareholders, court approval of the plan of arrangement and other customary closing conditions. Subject to satisfaction or waiver of these conditions, the transaction is expected to be completed during the week of October 23. READ MORE...

Tags: AMD, ATI, App, approval, OS, ui, sed, Ive, pro, AP, AM

Marco Chiappetta

Marco's interest in computing and technology dates all the way back to his early childhood. Even before being exposed to the Commodore P.E.T. and later the Commodore 64 in the early ‘80s, he was interested in electricity and electronics, and he still has the modded AFX cars and shop-worn soldering irons to prove it. Once he got his hands on his own Commodore 64, however, computing became Marco's passion. Throughout his academic and professional lives, Marco has worked with virtually every major platform from the TRS-80 and Amiga, to today's high end, multi-core servers. Over the years, he has worked in many fields related to technology and computing, including system design, assembly and sales, professional quality assurance testing, and technical writing. In addition to being the Managing Editor here at HotHardware for close to 15 years, Marco is also a freelance writer whose work has been published in a number of PC and technology related print publications and he is a regular fixture on HotHardware’s own Two and a Half Geeks webcast. - Contact: marco(at)hothardware(dot)com