Perhaps its long-time rivalry with Intel Corp. doesn’t have processor vendor AMD Inc. (NYSE: AMD) down after all, as the company is denying that it’s considering putting itself up for sale.
Following a report by Reuters quoting unnamed sources as saying AMD had retained JP Morgan Chase to explore strategic options for the company which could include a sale of certain assets or the company as a whole, speculation began to swirl around companies such as Microsoft and Samsung as potential suitors.
However, AMD is throwing cold water on the rumours according to Kristin Bent of CRN, who reports AMD is flatly denying a sale is in the works.
“AMD’s board and management believe that the strategy the company is currently pursuing to drive long-term growth by leveraging AMD’s highly differentiated technology assets is the right approach to enhance shareholder value,” Drew Prairie, an AMD spokesperson, told CRN in an emailed statement. “AMD is not actively pursuing a sale of the company or significant assets at this time.”
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