EU stops review of Qualcomm's $38B NXP acquisition a second time
September 07, 2017
Application Specific Semiconductors | Eindhoven, Netherlands | Corporate Acquisition
The European Commission has suspended its review of Qualcomm's $38 billion acquisition of NXP Semiconductors for a second time since June after the companies again failed to produce information requested by the regulator, per Reuters. The EU opened its investigation on June 9 over concerns that the deal could crowd out competition and lead to higher prices for consumers. The proposed merger is part of Qualcomm's efforts to pivot away from chip production for smartphones in favor of the auto and IoT sectors.