Is Xilinx owned by AMD?
SILICON VALLEY, CALIF. ― Oct. 27, 2020 ― AMD (NASDAQ: AMD) and Xilinx (NASDAQ: XLNX) today announced they have entered into a definitive agreement for AMD to acquire Xilinx in an all-stock transaction valued at $35 billion.
What is the closing date for the AMD-Xilinx acquisition?
The transaction has been unanimously approved by the AMD and Xilinx Boards of Directors. The acquisition is subject to approval by AMD and Xilinx shareholders, certain regulatory approvals and other customary closing conditions. The transaction is currently expected to close by the end of calendar year 2021.
Who is the CEO of Xilinx now?
Xilinx President and CEO, Victor Peng, will join AMD as president responsible for the Xilinx business and strategic growth initiatives, effective upon closing of the transaction. In addition, at least two Xilinx directors will join the AMD Board of Directors upon closing.
Should Intel (INTC) worry about AMD's potential takeover of Xilinx?
Xilinx 's ( NASDAQ:XLNX) stock recently popped after The Wall Street Journal claimed AMD ( NASDAQ:AMD) was mulling a takeover of the programmable chipmaker for over $30 billion. Investors ought to be skeptical about buyout rumors, but AMD's rival Intel ( NASDAQ:INTC) should worry about this potential deal.
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