AMD’s $35 billion acquisition of Xilinx expected to be completed in Q1 of 2022

In a statement Advanced Micro Devices Inc and Xilinx said, the former’s $35 billion all-stock deal for the latter is expected to close in the first quarter of 2022.

Previously the deal was expected to closed by the end of 2021.

“While we had previously expected that we would secure all approvals by the end of 2021, we have not yet completed the process,” said both companies in a statement.

With the news reaching the market, AMD’s shares were trading marginally up after the bell, while those of Xilinx fell by 3.6%.

AMD had announced the deal in October, intensifying its battle with Intel Corp in the data center chip market.

Midst U.S.-China tensions, chip deals face approval headwinds from Chinese regulators, who are known for their lengthy, opaque antitrust reviews.

“Our conversations with regulators continue to progress productively, and we expect to secure all required approvals,” said both companies. Nvidia Corp is struggling with getting regulatory approval for its deal for UK-based chip firm ARM Ltd, after the Federal Trade Commission suing to block the deal citing competition concerns.

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