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By Heekyong Yang and Sophie Yu
SEOUL (Reuters) -South Korea’s SK Hynix Inc stated on Wednesday it has obtained merger clearances from the Chinese language antitrust authority for its acquisition of Intel Corp’s NAND reminiscence chip enterprise, clearing the way in which for the world’s second-largest reminiscence chip maker to completion of securing regulatory approvals from all eight international locations.
The U.S. chip big final October agreed to promote its NAND reminiscence chip enterprise to SK Hynix for $9 billion, a part of a transfer to divest to give attention to its smaller however extra profitable Optane reminiscence enterprise which makes use of extra superior expertise.
“SK Hynix sincerely welcomes and appreciates the State Administration for Market Regulation’s merger clearance for the deal. SK Hynix will improve its competitiveness of NAND Flash and SSD enterprise by persevering with the remaining post-merger integration course of,” the corporate stated in an announcement.
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