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| ▲ This file photo provided by SK hynix Inc. on Feb. 1, 2021, shows the company's M16 fab in Icheon, south of Seoul. (PHOTO NOT FOR SALE) (Yonhap) |
(LEAD) SK hynix-Intel
(LEAD) SK hynix gets China's approval for Intel NAND biz takeover
(ATTN: UPDATES with more details throughout; ADDS photo)
SEOUL, Dec. 22 (Yonhap) -- South Korean chipmaker SK hynix Inc. said Wednesday it has received approval from Chinese authorities for its takeover of Intel Corp.'s NAND memory chip business, clearing the final hurdle for the merger process.
SK hynix received "merger clearance from the Chinese antitrust authority, State Administration for Market Regulation, for its acquisition of Intel NAND and SSD business," it said in a statement.
With the latest approval, the South Korean chipmaker has received all required approvals from eight jurisdictions from the relevant competition authorities.
"SK hynix will enhance its competitiveness of NAND Flash and SSD business by continuing the remaining post-merger integration process," the company said.
In October last year, South Korea's No. 2 memory chip maker signed a deal to buy Intel's non-volatile business for US$9 billion, which includes the U.S. firm's solid state drive business and a NAND flash chip plant in Dalian, China.
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