Qualcomm Walks Away From NXP Buy 2 Years in the Making
Qualcomm will terminate its agreement to buy NXP Semiconductors when the deal expires at the end Wednesday, CEO Steve Mollenkopf said, accompanying release of results for the quarter ended June 24. Qualcomm will buy back up to $30 billion worth…
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of stock, he said. Buying NXP would have created “the semiconductor engine for the connected world,” said Mollenkopf announcing the $38 billion deal in October 2016 (see 1610270028).