SK Hynix Cleared for Intel NAND and SSD Business Acquisition from European Commission
Last year, SK Hynix announced the acquisition of Intel’s NAND and SSD business for US$9 billion. It was then followed up by obtaining government approvals. Today, SK Hynix has received unconditional clearance from the European Commission for its proposed acquisition of Intel’s NAND and SSD business. This follows approval from the U.S. Federal Trade Commission last year, and approval from the Committee on Foreign Investment in the United States (CFIUS) this March.
By the European Commission’s Phase 1 decision, the EU approves SK Hynix’s acquisition of Intel NAND and SSD business, without any conditions or further investigation.
The proposed acquisition will help SK Hynix expand its global footprint, adding complementary memory technology. SK Hynix expects to enhance its expertise through the acquisition, to deliver more breakthroughs and higher value products for customers.
SK Hynix and Intel will do the best efforts for the remaining approvals to be obtained during 2021.
About SK Hynix
SK Hynix Inc. is a South Korean memory semiconductor supplier of dynamic random-access memory (DRAM) chips and flash memory chips. SK Hynix is the world's second-largest memory chipmaker, after Samsung Electronics, and the world's 3rd-largest semiconductor company.