Qualcomm, NXP To Refile Notice Of Acquisition; Extends Purchase Agreement

(RTTNews) - Qualcomm Inc. (QCOM) announced that the company and NXP Semiconductors N.V. (NXPI), at the request of the Ministry of Commerce in China (MOFCOM), have withdrawn and refiled the notice of acquisition regarding the companies' planned combination. NXP and Qualcomm River Holdings B.V., an indirect subsidiary of Qualcomm, have agreed, among other things, to extend the end date of their purchase agreement from April 25, 2018 to July 25, 2018. The currently pending tender offer of Qualcomm River Holdings B.V. to acquire all of the issued and outstanding shares of NXP is being extended to expire on April 27, 2018.

Qualcomm River Holdings B.V. also agreed that if the parties have not received all required regulatory approvals, including from MOFCOM, by July 25, 2018, it will pay the previously agreed termination fee to NXP no later than July 26, 2018.