Sunday, 16 December, 2018

China open to authorize Qualcomm-NXP deal, Qualcomm declines approval

U.S. and China Talk Up Qualcomm-NXP Merger. There’s Just One Problem: The Deal Is Dead Qualcomm insists $44bn takeover of NXP is dead despite easing of China-US trade tensions
Orlando Vargas | 05 December, 2018, 01:30

U.S. chipmaker Qualcomm has said that it has no plans to resurrect an agreement to acquire Dutch rival NXP, despite comments by Donald Trump which suggested that the deal would now be approved by the Chinese government.

USA chipmaker Qualcomm Inc. has ruled out any possibility of a renewed bid for rival NXP Semiconductors after President Xi reopened the doors for a new bid during his meeting with President Trump over the weekend. Afterward, Trump said Xi would consider giving a green light to a Qualcomm/NXP merger should the deal be presented to him again.

Qualcomm abandoned its planned $44 billion merger with Dutch rival NXP in July after failing to secure the required Chinese regulatory approval. "Qualcomm considers the matter closed and is fully focused on continuing to execute on its 5G roadmap".

"Although that acquisition can not be resuscitated, Xi's comment reveals in plain sight that Chinese antitrust policy is inherently politicized", said Scott Kennedy, a China expert at the Center for Strategic and International Studies in a blog post.

The acquisition deal between Qualcomm and NXP, worth $ 44 billion, ceased earlier this year because China did not grant timely approval. Qualcomm used share buybacks of $5 billion to try to maintain its stock price for their shareholders after the deal was cancelled. NXP declined to comment.

Trump says hopes to meet N.Koreas Kim in January or February
More than 30,000 North Korean civilians have fled their homeland since the peninsula was divided at the end of the 1950-53 Korean War.


Urban Meyer stepping down at Ohio State
And, of course, Meyer beat hated rival MI all seven times he faced them, including the last three with Jim Harbaugh as head coach. Ohio State finished sixth in the race for four playoff spots despite winning the Big Ten title for the third time in five years.


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The Pac-12 was never in the discussion, with its champion Washington finishing 10-3. Although both offenses are dominant, the defense is what separates the two teams.


When some deals collapse, they can't be revived - even by the most powerful politicians in the world.

Since then, Qualcomm has paid the $2 billion breakup fee owed to NXP and embarked on an accelerated share repurchase program. In July 2018, the deal finally fell apart when China disapproved the deal. Mellanox did not immediately respond to requests for comment.

Competition regulators in eight countries had approved the takeover.

Thus far, other high-profile mergers and acquisitions involving United States companies in other sectors have received Chinese approval.

USA lawmakers also passed reforms earlier this year that increased CFIUS' scrutiny of deals.

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