SSLLF - Xilinx gains amid report SK Hynix's purchase of Intel's NAND unit likely to get China OK

Xilinx (NASDAQ:XLNX) rose about 2% after a report that SK Hynix's planned purchase of Intel's (NASDAQ:INTC) NAND flash business is likely to be approved by China antitrust regulators soon. Chinese regulator have reportedly approved the the SK Hynix acquisition, according to a BusinessKorea report, which didn't specifically cite a source for its story. The article said analysts believe Chinese approval may come this weekend or by the end of the year. The potential approval of the SK Hynix deal is important to Xilinx (XLNX) as it's waiting for China's antitrust regulator to rule on its planned sale to Advanced Micro Devices (NASDAQ:AMD). Earlier, PaRR reported that China 's antitrust regulator is said to still be market testing Xilinx/AMD remedies. One source told the publication that the antitrust reviews of deals in China are still progressing even after reports that the U.S. could impose tougher restrictions on SMIC. The BusinessKorea news comes after a report earlier

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Xilinx gains amid report SK Hynix's purchase of Intel's NAND unit likely to get China OK