Xilinx Stock Slips as Takeover by AMD Pushed Back to First Quarter of 2022

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Xilinx

shares were declining Friday after its acquisition by larger semiconductor rival

Advanced Micro Devices

was pushed into the first quarter of 2022.

“While we had previously expected that we would secure all approvals by the end of 2021, we have not yet completed the process and we now expect the transaction to close in the first quarter of 2022,” the companies said in a press statement. “Our conversations with regulators continue to progress productively, and we expect to secure all required approvals.”

Xilinx (ticker: XLNX) shares declined 0.9% to $212 on Friday; the stock has risen 49% this year. Advanced Micro Devices (AMD) rose 0.2%. It has jumped 58.5% in 2021.

AMD was expected to close its $35 billion purchase of Xilinx this year. The deal is the longest pending public merger in the U.S., according to Bloomberg. It was announced in October 2020.

Officials in China have yet to approve the merger. It has been approved in the United States, the European Union and the U.K.

Write to Joe Woelfel at [email protected]