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21:31, 16-Jun-2018
Qualcomm extends cash tender offer to buy NXP shares
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Qualcomm Inc has extended by a week its cash tender offer to buy all shares of NXP Semiconductors NV for 44 billion US dollars, the chipmaker said on Friday.
The offer is now scheduled to expire on June 22, the latest in a series of extensions since October 2016 when the company announced its initial offer for NXP.
China is yet to approve the acquisition, Reuters reported on Friday, citing anonymous sources close the matter.
The NXP deal, which will be the largest acquisition in the history of chip industry if it finishes, is seen as key for Qualcomm to diversify its business and make a push into new areas like smart cars.
China is one of the nine countries and regions that had been required to sign off on the merger out of antitrust concerns.
The offer is now scheduled to expire on June 22, the latest in a series of extensions since Qualcomm initially announced its bid for the Dutch semiconductor company in October 2016.
Source(s): Reuters