AMD pushes back timeline for closing of Xilinx merger

With conscionable 1 time to spell successful the year, Advanced Micro Devices Inc. AMD, -2.10% admitted Thursday that its acquisition of chap semiconductor institution Xilinx Inc. XLNX, -1.71% would not adjacent by the extremity of 2021, but did accidental it expects the woody to beryllium sealed aboriginal successful the caller year. In a joint, uncredited connection provided to media, the companies said aft the marketplace closed Thursday, "We proceed making bully advancement connected the required regulatory approvals to adjacent our transaction. While we had antecedently expected that we would unafraid each approvals by the extremity of 2021, we person not yet completed the process and we present expect the transaction to adjacent successful the archetypal 4th of 2022. Our conversations with regulators proceed to advancement productively, and we expect to unafraid each required approvals." AMD agreed to get Xilinx successful October 2020 for $35 cardinal successful stock, a full that has accrued on with the banal prices of some companies during a semiconductor shortage. AMD shares gained astir 0.8% successful after-hours trading pursuing the news, portion Xilinx shares fell astir 1%.