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Qualcomm Offers EU Concessions Over $38 Billion NXP Takeover Bid

Qualcomm Offers EU Concessions Over $38-Billion NXP Takeover Bid

By Reuters | Updated: 9 October 2017 18:06 IST

Highlights

Qualcomm is offering EU concessions to make it allay the NXP deal
Qualcomm took over NXP Semiconductors NV for $38 billion
EU has not approved the deal till date

US smartphone chipmaker Qualcomm has offered concessions in an attempt to allay EU antitrust concerns over its $38-billion bid for NXP Semiconductors, the largest ever in the semiconductor industry.

Qualcomm, which supplies chips to Android smartphone makers and Apple, submitted its proposal on October 5, a filing on the European Commission site showed on Monday, without providing details.

The EU competition enforcer, which suspended the deadline for its decision on August 17 for a second time while waiting for information data from Qualcomm, said it would set a new deadline once the company has complied with its request.

The Commission is expected to seek feedback from rivals and customers in the coming days. It is concerned the combined company may use incentives to squeeze out rivals and raise prices, as well change NXP's intellectual property licensing model.

© Thomson Reuters 2017

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