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Qualcomm calls off bid to buy NXP

July 26, 2018


Since announcing the proposed $44 billion acquisition of Dutch semiconductor firm NXP in October, 2016, Qualcomm has worked to gain worldwide regulatory approval for the deal, and extended the tender period numerous times. Now the San Diego, Calif.-based seminconductor giant has called off the deal and has to pay NXP a $2 billion termination fee.

NXP has a strong foothold in the growing automotive chip business, which Qualcomm regarded as an opportunity to expand its reach into new vertical markets.

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