US FTC seeks additional info on Intel-ST JV
Intel Corp. said it has received a request for additional information from the U.S. Federal Trade Commission (FTC) in connection with the agency's regulatory review of a proposed flash-memory venture.
In May, STMicroelectronics NV and Intel created a flash-memory joint venture with an assist from private-equity firm Francisco Partners LP. Then, recently, Intel, STMicroelectronics and Francisco Partners unveiled the company name of ''Numonyx'' for the pending independent semiconductor company.
''While no estimate is being provided for a specific transaction closure date, Intel intends to respond promptly to the information request by the FTC,'' according to the microprocessor giant.
The company said it will also continue to work closely with the agency as it conducts its review under the Hart-Scott-Rodino (HSR) Act. ''Once the FTC determines that the company has substantially complied with the second request, the HSR Act requires a waiting period of 30 days before the transaction may be closed,'' according to Intel.
- Mark LaPedus