Files takeover application
based Advanced Technology Investment Corporation has filed an
application to take over AMD spinoff Globalfoundries. The application
was filed with Germany's cartel office on January 12.
ATIC already owns a 65.8 stake in the company, but it is now seeking to
buy out the rest. In a statement ATIC said the application was
consistent with AMD's long term plans to become fab-less and was one of
the key strategies in the creation of Globalfoundries.
According to Reuters, last week Globalfoundries CEO Doug Grose announced that AMD will reduce its stake in the foundry.