Qualcomm rules out another bid for NXP

Qualcomm says it has 'no plans' to revive failed NXP bid

With NXP being the biggest supplier to the industry, Qualcomm could be forced to reopen the deal amidst a grim outlook for the mobile chip industry in the coming months.

We have reported extensively on the US/China trade war escalations and how it affects consumers in the tech industry with the most recent update this weekend.

Qualcomm said on Monday it was not looking to revive the acquisition. "Qualcomm considers the matter closed and is fully focused on continuing to execute on its 5G roadmap".

Qualcomm abandoned the deal to buy NXP in July, after it was unable to secure Chinese regulatory approval.

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In addition, Qualcomm has already moved ahead with a $30 billion stock buyback in the wake of the original acquisition failure, with $21 billion already spent, "making it significantly more hard to re-engage on a deal", said Rasgon.

In discussions with Trump, "Xi also stated that he is open to approving the previously unapproved Qualcomm-NXP deal should it again be presented to him", the White House said on Saturday.

"Although that acquisition can not be resuscitated, Xi's comment reveals in plain sight that Chinese antitrust policy is inherently politicized", said Scott Kennedy, a China expert at the Center for Strategic and International Studies in a blog post.

Qualcomm had to pay NXP a $2 billion (approximately Rs. 14,100 crores) fee to terminate the deal.

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

The Trump administration had unsuccessfully lobbied the Chinese government earlier this year to give its blessing to the deal. Mellanox did not immediately respond to requests for comment.

The deal, which was originally announced in 2016, was approved by eight other regulators around the world.

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

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