AMD shareholders approve spinoff operations
02/18, 5:15pm
AMD approves spinoff
Shareholders of chipmaker Advanced Micro Devices (AMD) on Wednesday approved a spinoff of the company's manufacturing operations, reports WSJ's Wednesday edition. The move, approved by 94 percent of the shares at the vote, will improve the company's financial situation and have it concentrate only on designing chips rather than manufacturing them. AMD will enter into a joint venture with Advanced Technology Investment Co., which is an Abu Dhabi investment fund. The joint venture was first announced last fall.