US chip manufacturer Qualcomm will send its second refiling of its antitrust application to the Chinese Ministry of Commerce as early as Monday next week, sources told Reuters, in a desperate attempt to stop its deal with NXP Semiconductors from falling through.
Qualcomm withdrew its previous application on Saturday only four days before the Ministry of Commerce had to make a decision on the deal. The refile will give regulators up to another 6 months to review the application.
The $44 billion deal would see Qualcomm acquire the world’s largest semiconductor firm NXP, as it hopes to establish itself as leading chip supplier to China’s domestic auto market. Approval from the Chinese government is the last obstacle required for the deal to go ahead.