Sci-tech

Qualcomm to get European approval to purchase NXP for $39 billion

Qualcomm to get European approval to purchase NXP for $39 billion”

The European anti-trust regulators were concerned that after the NXP acquisition, Qualcomm would have a high market share in the region for cellular chipsets, and chips used for NFC connectivity. Qualcomm is engaged in a series of legal battles around the world over its alleged unfair business practices. The mobile giant has sued Qualcomm in multiple jurisdictions for allegedly taking advantage of its dominant position to charge excessive fees.

Qualcomm has reportedly made several commitments including assurances over licenses and intellectual property to help encourage the European Union to approve its acquisition of NXP.

If the deal does go through though, it could aid the chipmaker in avoiding Broadcom's hostile takeover attempt that began previous year when the company made a $105 billion dollar bid for the company which was rejected.

Broadcom launched a $130 billion takeover for Qualcomm in November 2017, which was swiftly rejected by Qualcomm's board because the offer was deemed to "dramatically undervalue" the company. Broadcom nominated a slate of directors to replace the current Qualcomm board and shareholders will vote on the matter at the annual meeting in March. The involvement of the Dutch firm would mean much greater regulatory scrutiny because both NXP and Broadcom are big players in the Wi-Fi chip business, the Financial Times reported. In order to obtain this approval, Qualcomm had to agree to certain conditions. So we have to assume they considered this scenario.



Like this

Latest


13 January 2018
Traders Buy Large Volume of Taiwan Semiconductor Mfg. Put Options (NYSE:TSM)
The stock of Taiwan Semiconductor Manufacturing Company Limited ( NYSE : TSM ) earned "Hold" rating by HSBC on Wednesday, June 21. Jefferies maintained BP p.l.c. ( NYSE :BP) rating on Tuesday, August 29. ( NYSE :SRC) on Thursday, November 2 with "Hold" rating.

13 January 2018
Navios Maritime Acquisition Corporation (NNA) Sets Yearly Low; Strong Momentum for Sellers
The Average Directional Index or ADX is a technical analysis indicator used to describe if a market is trending or not trending. The stock of Navios Maritime Midstream Partners L.P. (NYSE:NAP) has "Neutral" rating given on Friday, October 20 by Citigroup.

13 January 2018
Zareen Khan Slams Hina Khan, Calls Her "Fake"
Now, after nearly two years Shilpa grabbed huge eyeballs on the reality show with fans really liking the kind of person she is. She maintained dignity even in the ugliest of fights and supported her friends wholeheartedly inside the house.

13 January 2018
US Supreme Court takes up vehicle search cases
Privacy experts are watching to see whether the justices will broaden the government's power to search under the Fourth Amendment. The man was told that because he wasn't an authorized driver, troopers didn't need his OK for a search, which turned up heroin.

13 January 2018
United Technologies Corporation (NYSE:UTX) Reaches Overbought Range
The company now has an average rating of "Hold" and a consensus target price of $125.63. ( NYSE UTX ) opened at $134.99 on Friday. Beaumont Finance Prtn Limited Company invested 0.09% of its portfolio in United Technologies Corporation ( NYSE : UTX ).

13 January 2018
TCU hangs on for OT win at Baylor
Fisher was the catalyst for the Horned Frogs, scoring nine points while connecting on both of his three-point attempts. After a slow start, Brodziansky, finished with 18 points, 14 of them coming in the second and overtime for TCU.

13 January 2018
NYPD investigating sex assault claims against Terry Richardson
Some may say it's been a long coming for Terry Richardson since he's been banned from shooting for Vogue and GQ magazine after years of sexual assault allegations.

13 January 2018
TransDigm Group (TDG) Given Hold Rating at Jefferies Group
Moreover, Grandfield & Dodd Ltd Liability Company has 0.03% invested in Mohawk Industries, Inc. (NYSE:DNOW) for 58,879 shares. Credit Suisse Ag increased its stake in Now Inc (DNOW) by 74.26% based on its latest 2017Q3 regulatory filing with the SEC.

13 January 2018
Bihar CM Nitish Kumar's convoy pelted with stones in Buxar
Reports claimed that many villagers were anguished after the proposed seven development works did take place in the area. Although the chief minister escaped unhurt, some of his security men sustained serious injuries.

13 January 2018
Anadarko Petroleum Corp (NYSE:APC) Q3 2017 Sentiment
MSI Financial Services Inc increased its position in shares of Anadarko Petroleum Corporation by 0.3% in the third quarter. The firm has "Corporate" rating given on Thursday, March 31 by Northland Capital. (LON:QRT) rating on Tuesday, July 4.



Recommended