Prior to this, Qualcomm had delayed the validity of the transaction by 10 times, mainly in order to wait for the approval of the Ministry of Commerce of China.
In October 2016, Qualcomm announced the acquisition of NXP Semiconductors for approximately US$38 billion, or approximately US$110 per share. In February of this year, Qualcomm raised its offer to US$127.50 per share, or approximately US$44 billion.
To complete the transaction, Qualcomm needs to be approved by nine national regulatory authorities around the world. So far, Qualcomm has received approval from eight of them, only to be approved by the Chinese Ministry of Commerce.
Qualcomm CEO Steve Mollenkopf recently said that Qualcomm is still waiting for Chinese regulators to approve its acquisition of NXP Semiconductors. Morankopf said: 'We hope to complete the deal.
Morankopf also said that if the approval of the Chinese Ministry of Commerce is not available before July 25, the transaction will be abandoned. To boost the company's stock price, Qualcomm will choose to buy back 20 billion to 30 billion US dollars of stock.