Abstract: NXP said it has received a notice from Qualcomm to terminate the acquisition. Qualcomm will pay a $2 billion cancellation fee by 21 pm Beijing time. In addition, the board of directors has approved a $5 billion stock repurchase program.
Episodes reported on July 26 (Reporter Zhang Yiqun) Today, NXP released the second quarter financial report, NXP said it has received Qualcomm's notice to terminate the acquisition, Qualcomm will be in Beijing time tonight (26th) before 21:00 , paying $2 billion in cancellation fees.
NXP released its second-quarter financial report, showing second-quarter revenue of $2.29 billion, up 4% year-on-year, and up 1% from the previous quarter. Net profit attributable to NXP shareholders was $54 million, compared to the same period last year. The $49 million increased by 10.2%.
In addition, NXP also said that the board of directors has approved a $5 billion stock repurchase program.
For the failure of Qualcomm's acquisition of NXP, NXP's president and CEO Richard Kramer said that although 21 months of efforts failed to achieve the deal, it is regrettable, but NXP is still confident about the future, and will Continue to focus on business development in the automotive, security and Internet of Things sectors.