Sci-tech

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

loading...
loading...

Latest


13 January 2018
Wyoming Homeless Programs Get $292K in Federal Funding
They will report these one-night "point-in-time counts" later in the year to establish HUD's 2018 national homeless estimate. New federal funding is heading to New Jersey to help support efforts to put an end to homelessness in the state.

13 January 2018
A Look Into Insider Activity With Apache Corporation
It increased, as 60 investors sold APA shares while 202 reduced holdings. 66 funds opened positions while 209 raised stakes. The Connecticut-based Altrinsic Global Limited Liability Corp has invested 0.87% in Apache Corporation (NYSE: APA ).

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
Institutional Ownership And Insider Trading At Eli Lilly and Company (LLY)
The average Wall Street analyst rating for Eli Lilly and Company is Strong Buy, according to the average of 17 analyst scores. The firm owned 90,330 shares of the company's stock after acquiring an additional 41,150 shares during the quarter.

13 January 2018
Mackenzie Financial Corp Reduces Stake in Pretium Resources, Inc. (PVG)
ValuEngine upgraded shares of Pretium Resources from a "sell" rating to a "hold" rating in a research note on Friday, October 6th. Royce & Associates LP owned about 0.27% of Pretium Resources worth $4,497,000 at the end of the most recent quarter. (NYSE:PVG).

13 January 2018
Scott Quigg on verge of sealing world title bid against Oscar Valdez
Quigg will have to compete in enemy territory in LA against the Mexican, who has fought across America in his 23-0 career. StubHub Center in Carson is set to be the venue for the fight, which will take place outdoors.

13 January 2018
Rig count leaps 15, largest increase in 8 months
USA oil prices leaped above $63 a barrel this week, closing Thursday at $63.80, a rise of 23 cents or less than one percent. The Permian basin rig count increased by 3 this week, standing at 403 rigs, or 135 above this same week previous year .

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
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
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.