Qualcomm gives up on buying chip giant NXP

Qualcomm has been trying to buy giant chip maker NXP for the better part of two years. All that patience might not have paid off, however. Qualcomm is planning to drop its bid for NXP by the end of July 25th (that's today, if you're reading in time). Its executives reportedly expect Chinese regulators to shoot down the deal, with CEO Steve Mollenkopf pinning it partly on the "current geopolitical environment." In other words, Trump's trade war with China is dimming what chances were left of a merger.

Via: MarketWatch, CNBC

Source: Qualcomm

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