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Home > News > Industry News > NXP-Qualcomm deadline this Wed.....

NXP-Qualcomm deadline this Wednesday

  • Author:Ella Cai
  • Release on:2018-07-23
Wednesday may see the end of the NXP – Qualcomm saga. If the China government doesn’t OK the deal by then, it’s off.

Qualcomm says that if there’s no approval on Wednesday it will not seek an extension to the approvals process.

Qualcomm will have to pay NXP a $2 billion break-up fee if the China approval isn’t forthcoming.

Qualcomm has a $40 billion cash mountain and has promised to use most of  it to buy back shares if the deal doesn’t go through.

This will please shareholders because the stock is down 8% this year and, if it goes down this year, will have fallen for three years running.

Qualcomm is struggling on several fronts: big handset makers are using their own silicon instead of Qualcomm’s; national regulators around the world are investigating its licensing practices; it is locked in a lawsuit with Apple over its licensing practices, and ex-chairman Paul Jacobs is preparing a takeover bid.