European Commission set to approve Qualcomm takeover of NXP - report

The European Commission will approve Qualcomm's takeover of NXP Semiconductors in the next week. People familiar with the matter told the Financial Times that the Commission accepted remedies offered by the companies to address concerns the combined group would raise prices or exclude rivals.

The European Commission opened in June last year an in-depth investigation into Qualcomm’s proposed acquisition of NXP on concerns the deal could lead to higher prices, less choice and reduced innovation in the semiconductor industry. The acquisition would be the largest-ever in the semiconductor market, converting Qualcomm into the world’s biggest supplier to the automotive chip market. 

The takeover was first announced in October 2016 for USD 47 billion. In addition to regulatory approval, Qualcomm still needs to secure acceptance of a majority of NXP shareholders for its bid.