Qualcomm-NXP Deal Looking More Optimistic, Says Beijing Official: Report

Qualcomm-NXP Deal Looking More Optimistic, Says Beijing Official: Report


Qualcomm’s $44 billion (roughly Rs. 2.99 lakh crores) deal to purchase Dutch chipmaker NXP Semiconductors NV is wanting “more optimistic now”, the Wall Street Journal quoted a Beijing official as saying.

Shares of NXP had been up 5.5 % at $112.52 (roughly Rs. 7,700) and Qualcomm was up 1.6 % at $57.86 (roughly Rs. three,900) in late morning commerce.

The deal has been accepted by eight of the 9 required international regulators, with solely the Chinese Ministry of Commerce (MofCom) regularly stalling the takeover amid U.S.-China commerce tensions.

Qualcomm and NXP declined to remark, whereas MofCom didn’t instantly reply to a request for remark.

Sources with data of the matter instructed Reuters on Tuesday that the proposed takeover had but to see any concrete breakthrough in China.

However, Chinese regulators this week have cleared two massive offers – Toshiba Corp’s $18 billion (roughly Rs. 1.22 lakh crores) sale of its chip unit to a consortium led by US non-public fairness agency Bain Capital, and Microchip’s $eight.35 billion (roughly Rs. 56,800 crores) deal to purchase Microsemi.

© Thomson Reuters 2018



Adapted From: Gadgets360

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