China Pushes Qualcomm to Protect Local Companies in NXP Deal [Bloomberg Business News]
NXP Semiconductors N.V. (NXPI)
Last nxp semiconductors n.v. earnings: 4/27 05:00 pm
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Source: Bloomberg Business News
China’s regulators are seeking more protections for local companies before approving Qualcomm Inc.’s proposed purchase of NXP Semiconductors NV, according to people familiar with the matter, jeopardizing the U.S. chipmaker’s strategy for surviving as an independent company. China’s Ministry of Commerce isn’t satisfied with the remedies that Qualcomm has offered and has told the U.S. chipmaker to propose more, said the people, who asked not to be identified because the discussions are private. Many Chinese companies are lobbying the powerful ministry arguing the deal will hurt them and should be blocked. They’re particularly concerned the combined entity would extend Qualcomm’s patent licensing business into the areas of mobile payments and parts for autonomous driving systems, the people said. Qualcomm and the Ministry of Commerce declined to comment. Closing the transaction is crucial to Qualcomm’s stand-alone plan after it fought off a hostile takeo
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News
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NXPI
Earnings
- 2/5/24 - Beat
NXPI
Sec Filings
- 4/15/24 - Form ARS
- 4/15/24 - Form DEF
- 4/5/24 - Form PRE
- NXPI's page on the SEC website