SK hynix Receives Merger Clearances for Intel NAND and SSD Business Acquisition

By December 22, 2021 January 6th, 2022 No Comments

SK hynix Inc. today announced that it has received merger clearance from the Chinese antitrust authority, State Administration for Market Regulation (SAMR) for its acquisition of Intel NAND and SSD business.

With SAMR’s merger clearance SK hynix has received all required merger clearances in eight jurisdictions from the relevant competition authorities.

SK hynix will continue to prepare to close the transaction including achieving all of the closing conditions. The consideration for the 1st Closing is USD 7 billion. Upon the 1st Closing, SK hynix will acquire the Intel SSD business (including SSD-associated IP and employees) and Dalian facility.

SK hynix sincerely welcomes and appreciates SAMR’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.