SK hynix gets Chinese "Ok" for Intel NAND deal
SK hynix has received merger clearance from the Chinese antitrust authority, State Administration for Market Regulation (SAMR) for its acquisition of Intel NAND and SSD business.
With SAMR’s merger clearance SK hynix has received all required merger clearances in eight jurisdictions from the relevant competition authorities. SK hynix says in a press release that it will continue to prepare to close the transaction including achieving all of the closing conditions. The consideration for the first closing is USD 7 billion. Upon the first closing, SK hynix will acquire the Intel SSD business, including SSD-associated IP and employees, and Dalian facility. "SK hynix sincerely welcomes and appreciates SAMR’s merger clearance for the deal. SK hynix will enhance its competitiveness of NAND Flash and SSD business by continuing the remaining post-merger integration process," the company writes in a the press release.