>>> AMD would've been out of GF with the next ATIC investment in GF anyways just through dilution, and it wouldn't have cost anything.
their share gets smaller but wouldn't have gone away without some lawyers involved.
as far as the deal goes, it was reported by in multiple analysts reports I read that per last years changed wafers supply agreement AMD owed GF $430M in 2012. so the separation deal was really AMD gives up it's $278M stake in GF in return gets out of the wafer agreement and that $430M turned into $425M payable over 2 years.
here are some examples.
jfeeney@longbowresearch.com"
AMD will pay $425M in four cash payments to GF over the course of 2012 and 2013. Note that this payment replaces AMD’s existing obligation to pay GF $430M in 2012.
o 2012: $150M on March 5, $50M on July 2, and $50M on October 2.
o 2013: $175M in 1Q13. AMD issued a $225M non-interest bearing promissory note to Global Foundries for the payments due October 2, and 1Q13. "
"
AMD also waived its $430.0 million payment obligation to Globalfoundries from its 2011 wafer agreement, which had incentivized Globalfoundries to meet certain capacity targets. As a result, AMD is recording a one-time GAAP charge of $703.0 million in 1Q12, which includes a $425.0 million cash payment to Globalfoundries as well as the previously mentioned $278.0 non-cash charge.
"
