Tags: beijing | qualcomm | nxp | deal | wsj

WSJ: Beijing Official Says Qualcomm-NXP Deal Looking More Optimistic

WSJ: Beijing Official Says Qualcomm-NXP Deal Looking More Optimistic
(Mohamed Ahmed Soliman | Dreamstime)

Friday, 18 May 2018 12:06 PM

Qualcomm Inc.'s $44 billion deal to buy Dutch chipmaker NXP Semiconductors NV is looking "more optimistic now," the Wall Street Journal quoted a Beijing official as saying.

Shares of NXP (NXPI) were up 5.5 percent at $112.52 and Qualcomm (QCOM) was up 1.6 percent at $57.86 in late morning trade.

The deal has been approved by eight of the nine required global regulators, with only the Chinese Ministry of Commerce (Mofcom) continually stalling the takeover amid U.S.-China trade tensions.

Sources with knowledge of the matter told Reuters on Tuesday that the proposed takeover had yet to see any concrete breakthrough in China.

However, Chinese regulators this week have cleared two big deals - Toshiba Corp's $18 billion sale of its chip unit to a consortium led by U.S. private equity firm Bain Capital, and Microchip's $8.35 billion deal to buy Microsemi.

Qualcomm, NXP and the Mofcom were not immediately available for comment.

© 2019 Thomson/Reuters. All rights reserved.

   
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Qualcomm Inc.'s $44 billion deal to buy Dutch chipmaker NXP Semiconductors NV is looking "more optimistic now," the Wall Street Journal quoted a Beijing official as saying.
beijing, qualcomm, nxp, deal, wsj
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2018-06-18
Friday, 18 May 2018 12:06 PM
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