Qualcomm will refile an application with the Chinese government to approve the acquisition of NXP Semiconductors, according to Reuters.
The proposed deal, in which Qualcomm will pay roughly US$44 billion, has become complicated due to political issues between China and the United States, both of which are embroiled in a fight over trade deals and tariffs.
According to Reuters, the US chipmaker may file a new application as early as Monday, April 16, following the withdrawal of an earlier antitrust application on Saturday.
China’s commercial regulators, the Chinese Ministry of Commerce (Mofcom), originally held a deadline of April 17 to decide whether or not to approve the acquisition.
However, by withdrawing and refiling, the news agency’s sources suggest that regulators will be given up to six more months to make a decision and this will potentially prevent the deal from collapsing outright.
Qualcomm has been attempting to acquire NXP since 2016. The company originally offered US$110 per share, later ramped up to US$127.50 per share to sweeten the deal for NXP shareholders.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI