Qualcomm Extends NXP Semiconductors Cash Offer Term to June 22

Qualcomm recently announced that it will extend the deadline for the cash offer of NXP Semiconductors to wait for regulatory approval. This offer was originally scheduled to expire at 5 pm US local time on June 15, but has now been extended to the United States. Time at 5 pm on June 22nd. Qualcomm has extended the offer deadline several times.

Foreign media reported last week that Chinese regulators have not yet approved Qualcomm’s acquisition of NXP Semiconductors for US$44 billion. The acquisition of NXP is a key link for Qualcomm’s diversification strategy beyond the saturated smartphone market.

Qualcomm issued a tender offer for NXP Semiconductors in October 2016. NXP is one of the world's largest automotive electronics equipment companies. If successful, this acquisition will become one of the largest transactions in the history of the semiconductor industry.

At the close on Friday, Qualcomm’s stock price rose 0.67% to US$59.86 with a total market value of approximately US$88.764 billion.