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Home / Business / Qualcomm ends deal to buy NXP issues share buyback

Qualcomm ends deal to buy NXP issues share buyback



  Steve Mollenkopf, CEO of Qualcomm Inc., holds the new Snapdragon 835 chip during a keynote speech at the Consumer Electronics Show (CES) in Las Vegas, Nevada.

Patrick T. Fallon | Bloomberg | Getty Images

Steve Mollenkopf, CEO of Qualcomm Inc., holds the new Snapdragon 835 chip during a keynote speech at the Consumer Electronics Show (CES) in Las Vegas, Nevada.

Qualcomm has officially completed the proposed acquisition The Chip Rival NXP ended a two-year deal and paved the way for a $ 30 billion share buyback, the company said Thursday morning.

Qualcomm offers for the first time to buy NXP, b in the Netherlands for about $ 38 billion in October 2016, but bumped into Qualcomm's deadline between Qualcomm and NXP to resistance of some NXP shareholders who prevailed at a better price. Qualcomm raised its bid to $ 44 billion in February, but the deal was blocked by Chinese regulators in a growing trade dispute between the US and China over the imposition of tariffs on some Chinese manufactured goods by the Trump administration.

have helped Qualcomm, which offers chips for Android smartphone makers and Apple, to expand into new market areas such as auto chips.

Earlier this year, Broadcom's attempt to buy Qualcomm was blocked by the Trump administration for national security concerns.

-CNBCs
Sara Salinas
contributed to this report.


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