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EU: Qualcomm US$47b deal for NXP to be approved

By  |  January 10, 2018

According to The Financial Times Brussels is set to approve Qualcomm’s US$47 billion takeover of NXP next week, greenlighting the chip industry’s largest deal and strengthening the US company’s defence against a hostile takeover bid by rival Broadcom.

Two people familiar with the case reportedly said European antitrust regulators are expected to clear the acquisition after the two companies addressed concerns the combined group would increase costs or exclude rivals.

The European Commission last June expressed concerns that the tie-up might harm competition and opened an in-depth investigation into the takeover.

“As semiconductors are used in practically every electronic device, we are dependent on them,” Margrethe Vestager, EU competition commissioner, said at the time. “With this investigation, we want to ensure that consumers will continue to benefit from secure and innovative products at competitive prices.”

Full Content: The Financial Times

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