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China/US: Qualcomm not looking to revive its $44 billion acquisition of NXP

By  |  December 4, 2018

On Monday, December 3, Qualcomm announced it was not looking to revive its abandoned US$44 billion acquisition of Dutch peer NXP Semiconductors, a day after the White House stated that China would reconsider clearing a deal if it were attempted again.

Qualcomm, the world’s biggest smartphone-chip maker, walked away from its agreement to buy NXP in July, after failing to secure Chinese regulatory approval. The planned deal was first agreed between the two companies in October 2016.

After high-stakes talks on Saturday between US President Donald Trump and Chinese President Xi Jinping in Argentina, the White House announced in a statement that China was “open to approving the previously unapproved” deal for Qualcomm to acquire NXP “should it again be presented.”

Full Content: Reuters

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