China near approval for Qualcomm's NXP acquisition; NXPI
China near approval China is prepared to endorse Qualcomm's obtaining of NXP Semiconductors, as indicated by a Wall Street Journal source.
Key statement from source: "The arrangement ought to be cleared soon."
Chinese controllers are apparently working with Qualcomm's lawful group on "specialized subtle elements" required for the endorsement.
Qualcomm shares are up 4.5% premarket to $62.50.
NXP increases 6.5% to $122.
China near approval
The U.S. chipmaker, which initially announced its bid for the Dutch semiconductor company in October 2016, refiled its application to Chinese authorities for the second time in April.
“SAMR is currently conducting an antitrust review of the case of Qualcomm’s equity acquisition of NXP, and is in discussions with Qualcomm on how to eliminate the negative effects created by this deal,” the regulator said.
“SAMR, in line with anti-monopoly law, will conduct this review openly, fairly and impartially,
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