Hynix Wins China’s Approval to Take Over Intel’s Memory Arm
(Bloomberg) — China’s State Administration of Market Regulation approved SK Hynix Inc.’s $9 billion acquisition of Intel Corp.’s Nand storage unit, clearing the way for a merger intended to shore up the Asian chipmaker’s position in the booming memory market.
Hynix earlier secured permission from U.S. and European watchdog agencies, and China’s nod was the final hurdle to the Korean company’s largest-ever acquisition. China’s watchdog, however, stipulated a number of conditions, from ensuring Hynix pricing and supplies to “helping a third party break into” the computer and server solid-state storage market.
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