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26 November 2015

NXP's sale of RF Power business to JAC Capital cleared by CFIUS, triggering FTC approval of NXP's acquisition of Freescale

NXP Semiconductors N.V. of Eindhoven, The Netherlands has received clearance from the US Committee on Foreign Investment in the United States (CFIUS) for the proposed sale of its RF Power business to Jianguang Asset Management Co Ltd (JAC Capital) for $1.8bn. The acquisition is now in the final stages of the regulatory approval process, which is targeted to close on 7 December.

Divesture of the RF Power business is a condition for NXP's merger with Freescale Semiconductor Ltd of Austin, TX, USA.

NXP has hence now also received approval from the US Federal Trade Commission (FTC) to complete its $11.8bn acquisition of Freescale Semiconductor Ltd (announced in March).

The merger creates a high-performance mixed-signal semiconductor firm with combined revenue of more than $10bn, reckoned to become the market leader in both automotive semiconductor solutions and general-purpose microcontroller (MCU) products. The combined firm will also aim to capitalize on the growing opportunities created by accelerating demand for security, connectivity and processing.

The FTC approval comes after recent final approvals from the European Commission (EC), the Korea Fair Trade Commission (KFTC) and the Japan Fair Trade Commission (JFTC).

The remaining regulatory approval process is in its final stage, so NXP expects to close the merger with Freescale on 7 December.

See related items:

European Commission approves NXP's acquisition of Freescale, conditional upon NXP divesting RF power business

NXP and Freescale shareholders' meetings approve merger  

NXP to sell RF Power business to China's JAC Capital for $1.8bn

http://www.semiconductor-today.com/news_items/2015/may/nxp_280515.shtml

NXP to acquire Freescale for $11.8bn

Tags: NXP Freescale

Visit: www.nxp.com

Visit: www.freescale.com

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