Reginal Thomas
0
All posts from Reginal Thomas
Reginal Thomas in reginal thomas,

EU Regulators Will Decide on NXP and Freescale Acquisition by Sept. 4th

Competition authorities for the European Union will decide on whether or not allow NXP, a Dutch chipmaker, to acquire U.S. rival Freescale for $11.8 billion.

According to a filing on the European Commission’s site, NXP sought approval for the deal last week.

European Union regulators can approve the deal unconditionally or seek concessions to relax competition concerns. If it has deeper worries the commission can open its review to a fullscale investigation.

NXP’s chips are used in security cards, government passports and building ID tags. Its major competitors include Japan’s Renesas and Germany’s Infineon.

The combined firm would be valued at $40 billion and would become an industry leader in the auto and industrial semiconductor markets.