AMD SEC amendment reflects Intel payment

by Sylvie Barak on 11 December 2009, 09:18

Tags: AMD (NYSE:AMD)

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AMD says it filed an amendment with the SEC on Thursday to acknowledge the firm had now received its settlement payment from Intel.

"It was a settlement condition on our tender offer and has now been satisfied," an AMD spokeswoman said.

"The Settlement Condition (as set forth on the front cover of the Offer to Purchase) has been satisfied as of December 10, 2009. In satisfaction of the Settlement Condition, on December 10, 2009, the Company received the Settlement Payment from Intel Corporation pursuant to the settlement agreement between the parties dated as of November 11, 2009. All financing conditions relating to the Offer are satisfied," states the filing.

The firms put all their legal wrangling to bed back on November 12, including AMD's case against Intel in Delaware over antitrust.

Intel agreed to cough up some $1.25 billion in payments to AMD, whilst also agreeing to abide by a set of business practice provisions meant to keep the firm on the straight and narrow from hereon in.

In exchange, AMD dropped its law suits against its big blue rival, not only in Delaware, but also in two pending cases in Japan.

 

HEXUS Forums :: 1 Comment

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Posted by drunkenmaster - Fri 11 Dec 2009 15:00
As far as I remember there are still a few cases on going between AMD and intel, just several specific ones were closed out with this settlement, theres still a possibility of the US government proceeding with their own case(infact I think they are though with less incentive now) and theres a case Nvidia are trying to bring against Intel. Though that seems to mostly rest on the fact that Intel are trying to push them out of their Atom market and other chipsets, which realistically they have every right to do.

Looks to a lot of people like Nvidia's case is more a nuisance than based on fact and maybe just hoping Intel will pay up a small amount quickly to not get dragged back into constant litigation and depositions(remember any time lawyers can basically summon anyone at Intel to come and testify which they can do 5 times a week if they want to pay their lawyers to do so).