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SK Hynix’s acquisition of Intel’s NAND business receives Chinese approval with conditions

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South Korea’s SK Hynix said on Wednesday it has received merger clearances from the Chinese antitrust authority for its acquisition of Intel’s NAND memory chip business

South Korea’s SK Hynix Inc said on Wednesday it has received merger clearances from the Chinese antitrust authority for its acquisition of Intel Corp’s

“SK Hynix sincerely welcomes and appreciates the State Administration for Market Regulation’s merger clearance for the deal. SK Hynix will enhance its competitiveness of NAND Flash and SSD business by continuing the remaining post-merger integration process,” the company said in a statement. Additional conditions include that SK Hynix should not supply PCIe and SATA enterprise-class solid state drive products to China’s domestic market at unreasonable prices.

The deal is SK Hynix’s biggest acquisition, as the Korean firm tries to boost its capacity to build NAND chips which are used to store data in smartphones and data centre servers and to beef up its pricing power.

 

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