A PYMNTS Company

China: Microchip gets antitrust approval to buy Microsemi

 |  May 15, 2018

On Tuesday, May 15, Microchip Technology Increceived antitrust clearance from China to buy rival Microsemi reported Reuters. This is the first approval of a major technology deal by the country since the Broadcom-Brocade deal in August.

The go-ahead to the $8.35 billion acquisition comes in less than three months after the companies struck the deal, indicating that trade tensions between the United States and China were easing.

“It’s clear that the US-China relations are in thaw-mode,” Elazar Advisors analyst Chaim Siegel said.

“Between now and Trump’s meeting with North Korea in June, the US has increased negotiating leverage, which has moved US-China relations forward.”

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.