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Kudlow: China openness on Qualcomm a sign of cooperation to come

Kudlow: China openness on Qualcomm a sign of cooperation to come

But in a media statement, Qualcomm said the deadline for the planned transaction has expired, and the company now "considers the matter closed", with no intention of reviving talks.

"If that deal came back to him, he would most likely approve it quickly", Trump said.

The Qualcomm - NXP deal is dead and will remain dead, despite the best efforts of the U.S. and Chinese government to revive it, Reuters is reporting.

That may mean that NXP's board "could be open to the idea" of an acquisition if they are presented with another offer from Qualcomm, the analysts said.

The dissolved deal was one of the most visible repercussions of the escalating trade war between the United States and China, the world's two largest economies.

Chinese officials made no mention of Qualcomm-NXP in their official press statement about the meeting.




According to reports, Qualcomm and NXP have been patiently waiting for two years to win the regulatory approval from China. NXP has also announced its own $5 billion (around Rs. 35,200 crores) share buyback program.

In July, Qualcomm, which is based in California, confirmed that the company is terminating its proposed takeover of its rival NXP which is based in The Netherlands. This acquisition could be seen as an example for other companies who intend to make multinational deals in the current uncertain environment.

Competition regulators in eight countries had approved the takeover.

The Trump administration slapped tariffs on $200 billion of Chinese imports in a move aimed at reducing the trade deficit. It is important to note that China initially withholds the approval of the merger between the two chipmakers. Lastly, the White House announced that China has agreed to purchase a "very substantial" amount of US goods from the energy, industrial, agricultural, and other industries. -China trade tensions will last.

That's nice, said Qualcomm.

Kudlow also told reporters that a meeting with German carmakers this week was not meant to focus on possible tariffs, which Trump still held in his "quiver".


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