The offer was originally scheduled to expire at 5 pm U.S. local time on June 22, but it has now been extended to 5 pm U.S. local time on June 29th. Qualcomm has previously extended the deadline for the acquisition.
Foreign media previously reported that Chinese regulators have not yet approved Qualcomm’s acquisition of NXP Semiconductors for US$44 billion. The acquisition of NXP is a key part of 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 share price fell 0.43% to US$58.5, with a total market value of approximately US$86.747 billion.