AMD wins final approval for factory spin-off plans

[PBS Poll-435]

AMD wins final approval for factory spin-off plans.

Associated Press, 02.18.09, 12:36 PM EST


Shareholders of Advanced Micro Devices Inc. on Wednesday approved a stock transaction that clears the way for the computer chip maker to spin off factories and sell a stake of the company in a deal with the Abu Dhabi government.

AMD shareholders at a special meeting in Austin granted approval for a transaction that's the plan's final closing condition. Sunnyvale, Calif.-based AMD expects the deal to close by March 2.

A vote had originally been set for Feb. 10, but AMD postponed the meeting after only 42 percent of investors had voted by the initial date. While AMD said then that nearly all the votes cast supported the company's plan, it needed at least half of investors to vote.

Stockholders agreed to issue 58 million AMD common shares to an affiliate of Mubadala Development Co., an investment arm of the government of the Persian Gulf state of Abu Dhabi. That transaction is part of a larger deal that would allow AMD to spin off its factories in a moneysaving move.

[TahitiNut]

1. AMD and Halliburton ... birds of a feather.

I wouldn't buy a 'puter with an AMD chip if I could at all help it. No way.

[PBS Poll-435]

6. AMD is actually "in-sourcing"

But I know your history with them and I completely respect your opinion.

:-)

[DainBramaged]

2. I just put AMD on my banned list

I'll be parting out my AMD systems and building Intel now.

[PBS Poll-435]

3. Why?

(Just curious)

[DainBramaged]

4. Because they sold out American jobs

[PBS Poll-435]

5. No they didn't

They are actually building a new fabrication plant in Malta, NY.

(Their chips are currently made in Dresden, Germany, and packaged in Malaysia.)

[backscatter712]

7. Mixed feelings here.

Good to see that they are building a new fab in the U.S.

I'm not sure about the Dubai business though.

I've had AMD chips in my computers in the past and been happy with them. Lately, Intel's been taking the lead with their multi-core chips, though the newest chips from AMD seem promising.

[Sultana]

9. Abu Dhabi not Dubai

[DainBramaged]

8. Yes they did, FOREIGN INTERESTS yet again own our technology

mark my words, in 3 months or less, poof goes the fab.

[PBS Poll-435]

10. It seems like they were slightly short on options.

Option A: Discontinue operations, fire 16,500 people (many in the United States: Sunnyvale, CA and Austin, TX,) leave one major x86 processor manufacturer in the market (Intel) and one major supplier of discrete graphics cards (Nvidia.)

or

Option B: Accept foreign investment to continue operations and weather the current economic storm.



:shrug:

[DainBramaged]

11. I despise the apologists for the Foreign interests who own us, I really do

First you question my criticism, THAN you make excuses for these clowns.

Go play with your processors.

[PBS Poll-435]

12. I am not really sure where to go with this

Maybe I will just give you a couple of links. I don't like that the middle-east oil barons own a chunk of an American company, but it is better than people being laid off and consumers having no choice in the marketplace.

http://www.amd.com/us-en/assets/content_type/DownloadableAssets/AMD-Intel_Full_Complaint.pdf

http://en.wikipedia.org/wiki/AMD_v._Intel

[DainBramaged]

13. You obviously have an agenda here, and I just don't want to play your game anymore

Goodbye