Last Sunday, the G20 summit took place in Buenos Aires. At the summit, Chinese President Xi Jinping and American President Donald Trump spoke to each other. It turned out that their conversation was about the off-track takeover of the Dutch NXP by the American chipmaker Qualcomm, among other things. But whatever the outcome of those talks, there will be no new takeover talks.
That’s what the NOS is reporting today. Qualcomm was planning to take over NXP and had 44 billion dollars left over for that. But the Chinese government rejected the deal last July. However, yesterday’s G20 summit showed that the Chinese government might want to look at the deal again. But you don’t have to do that, let both top people from NXP and Qualcomm know.
Mustard after meals
An NXP spokesman tells the NOS that it is mustard after the meal. The deal was cancelled a few months ago, and that’s it. There are no new calls. Qualcomm also sees it this way: the American company is now investing heavily in the development of 5G networks and is no longer interested in acquiring NXP.
The question then is why Donald Trump asked his Chinese counterpart Xi to consider looking again at the possible takeover. However, the chance that the takeover will still take place is very small. Qualcomm had to pay two billion dollars to NXP after the takeover was finally not approved. Since the takeover attempt failed, the company has spent 22.6 billion dollars on buying its own shares. As a result, it has largely exhausted its reserves, with which new acquisition talks are by no means an obvious choice.
NXP employs 31,000 people and has 2,300 employees in the Netherlands. The company is headquartered in Eindhoven and has a factory in Nijmegen where it produces chips. These chips are for cars, household appliances, public transport and other purposes.This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.