AMD proposes purchase of ATI for $5.4 billion

Looks like Intel’s rival Advanced Micro Devices (AMD)
has just up the stakes with it’s propose purchase of Canadian company ATI Technologies Inc for $5.4 billion.

This is the excerpt from AMD & ATI’s site:

On July 24, 2006, AMD and ATI announced a plan to join forces, in a transaction that will combine AMD’s technology leadership in microprocessors with ATI’s strengths in graphics, chipsets and consumer electronics. The result is a processing powerhouse: a new competitor, better equipped to drive growth, innovation and choice for its customers in commercial and mobile computing segments and in rapidly-growing consumer electronics segments. The transaction, valued at US $5.4 billion, is expected to close in Q4 2006 subject to approval by ATI shareholders, court approval, regulatory approvals and other customary closing conditions.

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