AMD to buy Xilinx for $35 billion in all-stock deal

Semiconductor designer AMD on Tuesday said it will buy Xilinx for $35 billion in an all-stock deal. AMD CEO Lisa Su will lead the combined company as chief executive, whereas Xilinx CEO Victor Peng will serve as President for the Xilinx business and strategic growth initiatives. The deal will result in AMD shareholders owning about 74% of the combined firm.