The Briefing Room
General Category => Economy/Business => Topic started by: Cyber Liberty on July 26, 2018, 01:03:32 pm
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Qualcomm ends $44 billion NXP bid after failing to win China approval
Michael Martina, Stephen Nellis
July 25, 2018 / 2:59 AM
BEIJING/SAN FRANCISCO (Reuters) - Qualcomm Inc (QCOM.O) walked away from a $44 billion deal to buy NXP Semiconductors (NXPI.O) after failing to secure Chinese regulatory approval, becoming a high profile victim of a bitter Sino-U.S. trade spat.
The world’s biggest smartphone-chip maker and NXP confirmed in separate statements on Thursday the deal, which would have been the biggest semiconductor takeover globally, had been terminated.
The collapse of the deal is likely to aggravate tensions between Washington and Beijing, damage China’s image as an antitrust regulator and discourage deals that need Chinese approval to go through, sources have said.
Read more: https://www.reuters.com/article/us-nxp-semicondtrs-m-a-qualcomm/qualcomm-ends-44-billion-nxp-bid-after-failing-to-win-china-approval-idUSKBN1KF193 (https://www.reuters.com/article/us-nxp-semicondtrs-m-a-qualcomm/qualcomm-ends-44-billion-nxp-bid-after-failing-to-win-china-approval-idUSKBN1KF193)
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I got an email from my CEO this morning...I'm NXP. No wonder our stock has been tanking the last week.
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I got an email from my CEO this morning...I'm NXP. No wonder our stock has been tanking the last week.
My condolences.
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My condolences.
I'm good no matter what happens. I've been socking away heavily since Freescale was spun off from Motorola, and Mrs. Liberty would be deelighted if I got laid off. :whistle: