AMD delays vote on Abu Dhabi spinoff

11 February 2009

Advanced Micro Devices Inc has postponed a shareholder vote to approve its plan to spin off its manufacturing plants, after failing to obtain the requisite quorum, reported Reuters. In October, the company said it planned to spin off its manufacturing plants into a $5.7bn joint venture with Abu Dhabi. AMD spokesman Mike Silverman said yesterday AMD had moved a bit too quickly to close the transaction, but added that all parties were committed to the deal.

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