China’s regulators said it’s unfortunate that Qualcomm Inc. decided to scrap its $44 billion bid to acquire rival chipmaker NXP Semiconductors NV, a surprise statement a day after the two companies abandoned their deal because they hadn’t received regulatory approval by a deadline Wednesday. China’s State Administration for Market Regulation said its deadline for the current Qualcomm review is Aug. 15, with an extended deadline of Oct. 14. The statements appear to be aimed at shifting blame for the deal’s failure to the companies, though Qualcomm and NXP said the reason was China’s failure to give clearance more …read more
Source:: Yahoo Finance
