SK Hynix gets China approval to take over Intel’s NAND business – TechCrunch
South Korean chipmaker SK Hynix said on Wednesday it has received merger clearance from the Chinese antitrust authority for its $9 billion acquisition of Intel Corp’s NAND and SSD (solid-state drive) business, clearing the final hurdle to completion of securing regulatory approval in eight jurisdictions.
Last October, the U.S. chip giant and SK Hynix reached the acquisition deal. Following the agreement, SK Hynix obtained nods from watchdog agencies in South Korea, the U.S., the European Union, Taiwan, Brazil, Britain and Singapore.
SK Hynix said in its statement: “SK Hynix sincerely welcomes and appreciates the State Administration of Market Regulation’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 acquisition, which is SK Hynix’s largest acquisition deal, will…
