UK regulator finally approves SK Hynix takeover of Intel’s NAND and SSD business

The UK Competition and Markets Authority (CMA) has finally approved SK Hynix’s takeover of Intel’s NAND and SSD divisions. The agency ruled that the deal, which is valued at $ 9 billion, will not have a negative impact on local consumers.

Source: freepik.com

The Korean and American companies agreed on a partial takeover procedure in October last year, and in April 2021, the Office decided to conduct additional investigation into the possible consequences of this transaction. The CMA set out to find out if the takeover would lead to “A significant reduction in competition in any market or markets for goods or services in the United Kingdom”… In particular, the department was worried about the potential coincidence of shipments of SSD-drives and other products based on NAND memory.

However, according to the results of the investigation, it became clear that the fears were not confirmed. CMA was able to find evidence that strong competitors would remain in the market if the transaction was completed. Moreover, during the investigation, representatives of these competitors announced their plans to expand their capacity. The agency also released a 31-page document in which, among other things, the agency’s director of mergers, Eleni Gouliou, said: “The CMA does not believe that this … merger could result in a significant reduction in competition in the UK market or markets.”.

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