[H]ardOCP: Qualcomm Abandons $44 Billion NXP Acquisition

[H]ardOCP: Qualcomm Abandons $44 Billion NXP Acquisition

Qualcomm had previously submitted a Dollars 44 billion bid for rivals NXP Semiconductors only to see the bid declined by Chinese regulators amid the escalating trade war between China and USA, making the company a victim of the dispute.

President Trump, who met with Chinese President Xi Jinping over the weekend, said: "If that deal came back to [Xi], he would most likely approve it quickly, which is a big thing".

American chip maker Qualcomm could reconsider acquiring rival Dutch semiconductor maker NXP after China said they were open to approving the previously blocked deal at a meeting between the USA and China at the G20 summit in Argentina, even though the United States company has denied the possibility for now, said a Taipei-based analyst on Monday.

A spokesperson for the company said: "Qualcomm considers the matter closed". Chinese officials did not mention this item in their news conference.

China's foreign ministry declined to comment on Qualcomm during a regular media briefing on Monday. It has spent more than US$20 billion in share buybacks in the last 12 months.

Ex-Seahawk Brandon Browner sentenced to 8 years in attempted murder case
In the past two years, he has been arrested on suspicion of domestic battery, child endangerment and possessing cocaine. He has been in custody since his arrest in July, and received credit for 300 days for good behavior, TMZ reported .

After the meeting, Trump said they had reached an "incredible deal". But Qualcomm has already paid a breakup fee in the deal and begun a $21 billion stock buyback program, they said, limiting its financial flexibility. Xilinx is now vying to acquire Israeli chip maker Mellanox Technologies after it made a decision to run an auction to sell itself, according to people familiar with the matter.

A more near-term test being watched by dealmakers is KLA-Tencor Corp pending acquisition of fellow semiconductor equipment maker, Israel's Orbotech Ltd.

Regulators in eight countries approved the deal, including in the USA and Europe.

Thus far, other high-profile mergers and acquisitions involving USA companies in other sectors have received Chinese approval. But, as USA and China relations deteriorated, the Chinese government later claimed they would block the deal, and Qualcomm announced that they were abandoning the effort this year. In July 2018, the deal finally fell apart when China disapproved the deal.

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

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