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US/Japan: Qualcomm set to take a step closer to US$38b NXP Semiconductors acquisition

 |  November 20, 2017

US smartphone chipmaker, Qualcomm, is set to win “imminent” Japanese antitrust clearance for its US$38 billion bid for NXP Semiconductors, and gain Europe’s approval by the end of the year with slight tweaks to its concessions, a person familiar with the matter has said.

Winning the green light from both competition authorities would take Qualcomm a major step forward to closing the deal and reinforce its fight against an unsolicited US$103 billion takeover bid from Broadcom.

The Japan Fair Trade Commission (JFTC) “is expected to clear Qualcomm’s acquisition of NXP imminently,” the source said.

“The European Commission is expected to follow soon.”

The JFTC did not respond to emailed requests for comments sent during out of office hours. The EU competition enforcer, which has set a March 15 deadline to rule on the deal, declined to comment while Qualcomm was not available for comment.

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