According to a memo issued by Kevin Sellers, Intel’s Vice President of Investor Relations, the Federal Trade Commission has concluded its review of the proposed McAfee transaction and has cleared it. Sellers noted that the company is continuing to work with the staff at the European Commission as they continue their review on the transaction. 
In an announcement that surprised the market this summer, Intel entered into a definitive agreement to buy McAfee for $7.68 billion in cash, purchasing of all of the company’s common stock at $48 per share. Once the acquisition is completed, McAfee will operate as a wholly-owned subsidiary, reporting into Intel’s Software and Services Group and managed by Renée James, Intel senior vice president, and general manager of the group.