Qualcomm has no plans to revive NXP deal

Qualcomm NXP Deal

Recently the White House released a statement that declared that China is interested in approving a previous deal that was forwarded by U.S. Chip manufacturer Qualcomm to buy its Dutch counterpart NXP Semiconductors.

But last weekend, following trade talks between between US president Donald Trump and Chinese president Xi Jinping, the US White House announced that China is now open to clearing the Qualcomm-NXP deal should it be presented to them for approval again. Yesterday, China's president said the Chinese government would let the deal go through after all, but a Qualcomm official insists that the deal is is still dead.

However, Reuters reports that Qualcomm representatives made it clear through an email, that the company considers the matter closed.

Qualcomm said in a court hearing that Apple is $7 billion behind in patent royalty payments to the company, that supplie parts for the iPhone. Further aggravating this is the fact that Qualcomm even paid a $2 billion penalty in order to distance itself away from the deal. NXP declined to comment.

Qualcomm moved ahead with a stock buyback of about $30 billion that it had promised shareholders should the NXP deal fall apart.

After G20 Photo, Saudi Prince Left Stage Quickly, Didn't Greet Leaders
The world will have to wait a little longer for an update on how Trump and Chinese President Xi Jinping are getting on. Putin is under fire, at least most recently, for the Russian seizure of Ukrainian ships and sailors.

After the meeting, Trump said they had reached an "incredible deal". Xilinx is now vying to acquire Israeli chip maker Mellanox Technologies after it chose to run an auction to sell itself, according to people familiar with the matter.

A more near-term test being watched by dealmakers is KLA-Tencor Corp pending acquisition of fellow semiconductor equipment maker, Israel's Orbotech Ltd.

"If that deal came back to him, he would most likely approve it quickly", Trump said. The deal eventually failed in July after a regulatory deadline passed without approval from China's State Administration for Market Regulation (SAMR), which oversees antitrust regulation in the country.

Telecommunications company Qualcomm ruled out any chance of a return to its abandoned bid for NXP Semiconductors NV after U.S. and Chinese political leaders appeared to open the way for possible approval of the transaction.

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