NXP Semiconductors has announced that the company has gained final approval from China’s Ministry of Commerce for NXP’s proposed merger with Freescale Semiconductor. Chinese approval was the last hurdle to fall, and the merged company will soon take its spot as the top automotive semiconductor supplier in the world.
About The Merger
NXP and Freescale announced the $40 billion merger back in March, but only now have the two companies gained all of the appropriate governmental approvals for the deal to become official. The deal gained regulatory approval from the EU back in September, and China’s late-November decision comes on the heels of the U.S. Federal Trade Commission’s stamp of approval earlier this week.
When the deal was announced, the companies boasted…
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