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AMD planning ATI bid, sources say... on Monday? - AMD planning ATI bid, sources say... on Monday?
Sun, July 23 2006 | 2:45AM | PermaLink Feedback?
"Chip maker Advanced Micro Devices Inc. is considering a $5.6-billion (U.S.) takeover bid for ATI Technologies Inc., a leading manufacturer of computer graphics chips, sources say on Monday July 24th apparently. ATI stock is rising today on rumours that AMD will make a friendly offer of between $21 and $23 as early as next week.

”There has been considerable industry speculation that AMD may pursue an acquisition of ATI Technologies, although such an outcome is by no means certain,” said a report this week for analyst Eric Gomberg at investment bank Thomas Weisel Partners ”In light of AMD's technology road map, and specifically its Torrenza technology, we believe that such a merger would not be so far fetched.” AMD would make an offer at a 20-to-40-per-cent premium to ATI's current share price, Mr. Gomberg estimated. ATI and arch-rival Nvidia Corp. dominate the market for the chips that run computer games. AMD and its major competitor, Intel, both buy ATI products. In addition, Intel has left a lot of the lower-margin business of chipsets to ATI as Intel wrestles with capacity constraints. As a result, integrated chipsets account for about 25 per cent of ATI's revenue today, up from just 10 per cent a year ago." The board of directors at Sunnyvale, California-based AMD have approved a takeover offer, according to an investment banker familiar with the talks. Other sources in the financial industry said AMD executives have been spotted at ATI's Markham, Ont. head office.

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