SK hynix Receives Clearance for Intel NAND and SSD Business $9 Billion Acquisition From European Commission

SK hynix, Inc. has received unconditional clearance from the European Commission for its proposed acquisition of Intel Corp.‘s NAND and SSD business.

This follows approval from the US Federal Trade Commission last year, and approval from the Committee on Foreign Investment in the United States (CFIUS) this March.

By the European Commission’s Phase 1 decision, EU approves this acquisition without any conditions or further investigation.

The proposed acquisition will help SK hynix expand its global footprint, adding complementary memory technology. The company expects to enhance its expertise through the acquisition, to deliver more breakthroughs and higher value products for customers.

SK hynix and Intel said they will do the best efforts for the remaining approvals to be obtained during 2021.