Qualcomm offers concessions to the EU over $38bn bid for NXP

By Pouyan Broukhim

US company Qualcomm, a smartphone chipmaker who has supplied to both android and Apple phones, has offered the EU concessions in an attempt to see its bid for a $38bn takeover of NXP Semiconductors completed successfully.

NXP is a Dutch multinational, employing approximately 45,000 people, including 11,200 engineers, across 35 different countries within the semiconductor industry.

See also:

Qualcomm submitted its proposal to the European Commission site on 5 October, with the EU competition enforcement agency having suspended its decision for the second time back in mid-August.

The US firm suffered a knock to its reputation recently, with a number of major antitrust lawsuits having been filed against Qualcomm across the globe. This has largely prompted the EU’s scepticism over the company’s latest venture, despite the US Federal Trade Commission approving the acquisition of NXP in Spring.

The decision will now rest firmly with the Commission who will evaluate feedback from both company rivals and customers, with concerns over the potential for the use of incentives to raise prices and bully out industry rivals.

It remains unclear whether or not the deal will be approved by the watchdog, but if successful, the takeover will be the largest ever seen within the semiconductor industry.


Featured Articles

DEI done right: Brook Sims, COO, MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Q&A: China’s ecommerce innovator Jeff Li, CEO of Shoplazza

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

How hybrid work is revolutionising the physical office

As hybrid work models roll out worldwide, the purpose of the office is changing with collaboration, connection and networking taking centre stage

Trailblazer: Shanique Bonelli-Moore, DEI chief at Clorox


Dean Forbes – the Forterro CEO aiming for the moon

Leadership & Strategy

Why becoming a B Corp is good for business