AMD has completed the USD 5.4 billion acquisition of ATI Technologies. "Today marks a historic day for our employees, our partners and our customers as we officially welcome ATI into the AMD family," said AMD Chairman and CEO Hector Ruiz.
Under the terms of the transaction, AMD acquired all of the outstanding common shares of ATI for a combination of approximately USD 4.3 billion in cash and 58 million shares of AMD common stock, based on the number of shares of ATI common stock outstanding on October 24, 2006. All outstanding options and Restricted Stock Units (RSUs) of ATI were assumed. The value of the ATI acquisition of approximately USD 5.4 billion is based upon the closing stock price of AMD common stock on October 24, 2006 of USD 20.32 per share and excludes the value of assumed equity awards. AMD financed the cash portion of the transaction with a combination of cash and new debt. AMD obtained a USD 2.5 billion-term loan from Morgan Stanley Senior Funding, which, together with combined existing cash, cash equivalents, and marketable securities balances of approximately USD 1.8 billion, provided full funding for the transaction, the company said.
