European Commission Suspends Qualcomm, NXP Review for Second Time
The European Commission on Wednesday suspended its review of Qualcomm's (QCOM) - Get Report $38 billion takeover of NXP Semiconductors (NXPI) - Get Report for the second time after both chipmakers failed to provide crucial details of the agreement.
Both shares of Qualcomm and NXP Semiconductors were moving lower during Wednesday morning trading following the suspension.
Reuters first reported the suspension of the decision, which was initially given a Dec. 6 deadline.
"Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission's decision is then adjusted accordingly," EU competition regulators said.
Further, the European regulator is examining concerns that the agreement may increase prices, effectively reducing innovation within in the semiconductor space.
Qualcomm, whose shares are lower over 23% this year after being hit patent disputes and even a lawsuit by Apple (AAPL) - Get Report , faces further downside risk should regulators veto the deal.
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