NXP Semiconductors Plunges as Qualcomm Deal Doubts Resurface

2021-03-30 23:22:20 admin

Shares of NXP Semiconductors NV  trended lower again Tuesday, April 24, registering their ninth day of losses in 10 trading sessions.

By the market close, shares of the chipmaker were down 1.42% to $101.71. During the previous session, the stock clocked in its lowest closing price since April 2017. Over the last five sessions, NXP stock is down nearly 10%, while it remains lower more than 15% in the last three months.

The stock has suffered in recent sessions on trader concern that a takeover bid from Qualcomm Inc.may fall through. Qualcomm has been pursuing a $44 billion deal to buy NXP since October 2016 but has recently run into regulatory trouble in China. A Chinese Commerce Ministry spokesperson said there are "related issues that are hard to resolve," adding that it would be difficult to "eliminate the negative impact" of a deal.

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