Stockholders Approve AMD Takeover

By Doug Olenick On Oct 23 2006 - 6:00am

AMD's acquisition of graphics card maker ATI received two key approvals clearing the way for the deal to be consummated later this month.

ATI shareholders and the Canadian government gave their thumbs up for the $4.2 billion deal that will make ATI part of AMD. ATI said 99 percent of its shareholders approved of the plan and Canadian officials were pleased with AMD's intention to expand research and development and boost the number of Canadian employees.

No ATI personnel cuts are expected once the deal is completed.