Qualcomm Secures EU Antitrust Approval for NXP Semiconductors Acquisition

Qualcomm Inc. is set to clinch European Union antitrust approval for its acquisition of NXP Semiconductors NV as soon as next week, according to people familiar with the matter, as the semiconductor company fends off unsolicited bids by Broadcom Ltd.

The EU opened an in-depth probe into the Qualcomm-NXP deal last June on concerns the deal could lead to higher prices, less choice and reduced innovation in the semiconductor industry. Qualcomm has since made commitments to assuage those concerns.

(END) Dow Jones Newswires

January 11, 2018 06:47 ET (11:47 GMT)