AMD’s $35 Billion Acquisition of Xilinx

Latham & Watkins LLP and LNT & Partners served as ADM legal advisors., while Skadden, Arps, Slate, Meagher & Flom LLP served as Xilinx legal counsel in the transaction. Shearman & Sterling advised Morgan Stanley.

Xilinx has entered into a definitive agreement with AMD, in which ADM will acquire Xilinx in an all-stock transaction valued at $35 billion. The combination will create the industry’s leading high performance computing company.

The acquisition brings together two industry leaders with complementary product portfolios and customers. AMD will offer the industry’s strongest portfolio of high performance processor technologies, combining CPUs, GPUs, FPGAs, Adaptive SoCs and deep software expertise to enable leadership computing platforms for cloud, edge and end devices. Together, the combined company will capitalize on opportunities spanning some of the industry’s most important growth segments from the data center to gaming, PCs, communications, automotive, industrial, aerospace and defense.

For more than 50 years AMD (NASDAQ: AMD) has driven innovation in high performance computing, graphics and visualization technologies ? the building blocks for gaming, immersive platforms and the data center.

Xilinx (NASDAQ: XLNX) develops highly flexible and adaptive processing platforms that enable rapid innovation across a variety of technologies – from the cloud to the edge and to the endpoint. 

Credit Suisse and DBO Partners acted as financial advisors to AMD, Morgan Stanley and BofA Securities acted as financial advisors to Xilinx.

Latham & Watkins LLP represented AMD in the transaction with a corporate team led by Bay Area partner Tad Freese (Picture) and Chicago partner Jonny Solomon, with Chicago associates Owen Alexander, Matthew Dixon, Joyce Li, Jacob Saslow, and New York associates Aubrey Steiger and Ozden Samur-LaBruna. Advice was also provided on capital markets matters by Bay Area partner Brian Paulson and Chicago partner Roderick Branch, with Chicago associate Austin Arnett; on Benefits and compensation matters by Bay Area partner James Metz, with Bay Area associate James Robinson; on technology transactions matters by Bay Area partner Tony Klein, with Bay Area associates Gil Halpern, Heather Lui, Andrew Huang, and Los Angeles associates Veronica Ye and Nicole Nour; on intellectual property matters by Bay Area partner Rick Frenkel; on tax matters by Los Angeles partner Sam Weiner and Washington, D.C. partner Nicholas DeNovio, with Boston associate Joseph Curran; on antitrust matters by Washington, D.C. partners Mandy Reeves and Farrell Malone, with Brussels counsel Tomas Nilsson and Bay Area associate Kelly Fayne; on regulatory matters by Chicago associate Meredith Monroe; on export control matters by Washington, D.C. counsel Rachel Alpert, with Washington, D.C. associate Elizabeth Annis; on real estate matters by Chicago associate John Jefferson; on environmental matters by Chicago counsel Sara Orr; on government contracts matters by Washington, D.C. counsel Kyle Jefcoat, with Washington, D.C. associate Chase Chesser; on general litigation matters by New York partner Jason Hegt and Bay Area partner Matthew Rawlinson; and on finance matters by Los Angeles partner Elizabeth Oh and Bay Area partner Haim Zaltzman. 

The Skadden team advising Xilinx included M&A partners Kenton King (Palo Alto) and Sonia Nijjar (Palo Alto), and associate Alison Bloch (Palo Alto); Antitrust/Competition partners Steven Sunshine (Washington, D.C.) and Maria Raptis(New York); Executive Compensation and Benefits partner Joseph Yaffe (Palo Alto/Los Angeles) and counsel Kristin Davis (Palo Alto); Intellectual Property and Technology partner Ken Kumayama (Palo Alto); Tax partner Nathan Giesselman (Palo Alto); and Labor and Employment Law partner Karen Corman (Los Angeles) and counsel Annie Villanueva (Palo Alto).

Shearman & Sterling advised Morgan Stanley with a team led by partner Rob Masella, with partner Alan Goudiss, associate Olivier Souleres, and associate Rena Katsuyama.

LNT & Partners antitrust team was led by partner Tuan Nguyen, assisted by associates Thinh Tran and My Tran. 

Involved fees earner: Owen Alexander – Latham & Watkins; Rachel Alpert – Latham & Watkins; Elizabeth Annis – Latham & Watkins; Austin Arnett – Latham & Watkins; Roderick Branch – Latham & Watkins; Chase Chesser – Latham & Watkins; Joseph Curran – Latham & Watkins; Nicholas DeNovio – Latham & Watkins; Matthew Dixon – Latham & Watkins; Tad Freese – Latham & Watkins; Richard Frenkel – Latham & Watkins; Gil Halpern – Latham & Watkins; Jason Hegt – Latham & Watkins; Andrew Huang – Latham & Watkins; Kyle Jefcoat – Latham & Watkins; John Jefferson – Latham & Watkins; Anthony Klein – Latham & Watkins; Joyce Li – Latham & Watkins; Heather Lui – Latham & Watkins; Farrell Malone – Latham & Watkins; James Metz – Latham & Watkins; Meredith Monroe – Latham & Watkins; Tomas Nilsson – Latham & Watkins; Nicole Nour – Latham & Watkins; Elizabeth Y. J. Oh – Latham & Watkins; Sara Orr – Latham & Watkins; Brian Paulson – Latham & Watkins; Matthew Rawlinson – Latham & Watkins; Amanda Reeves – Latham & Watkins; James Robinson – Latham & Watkins; Ozden Samur-LaBruna – Latham & Watkins; Jacob Saslow – Latham & Watkins; Kelly Smith Fayne – Latham & Watkins; Jonathan Solomon – Latham & Watkins; Samuel Weiner – Latham & Watkins; Wenqian Ye – Latham & Watkins; Haim Zaltzman – Latham & Watkins; Tuan Nguyen – LNT & Partners ; My Hoang Tran – LNT & Partners ; Thinh Hai Tran – LNT & Partners ; Alan Goudiss – Shearman & Sterling; Rena Katsuyama – Shearman & Sterling; Robert Masella – Shearman & Sterling; Olivier Souleres – Shearman & Sterling; Alison Bloch – Skadden; Karen Corman – Skadden; Kristin Davis – Skadden; Nathan Giesselman – Skadden; Kenton J. King – Skadden; Ken Kumayama – Skadden; Sonia Nijjar – Skadden; Maria Raptis – Skadden; Steven Sunshine – Skadden; Annie Villanueva – Skadden; Joseph Yaffe – Skadden;

Law Firms: Latham & Watkins; LNT & Partners ; Shearman & Sterling; Skadden;

Clients: Advanced Micro Devices; Morgan Stanley; Xilinx;

Sonia Carcano

Author: Sonia Carcano