European Union antitrust regulators said Friday that Qualcomm (QCOM) , a smartphone chipmaker, has not offered concessions to this point in its $38 billion bid for NXP Semiconductors (NXPI) , according to Reuters.

Qualcomm's failure to provide concessions increases the risk of a lengthy investigation into the deal.

The San Diego-based chip supplier had until June 1 to submit concessions to alleviate possible competition concerns over the biggest-ever deal in the semiconductor industry.

The EU competition authority's preliminary review of the deal will end on June 9.

The regulatory body can either approve the transaction unconditionally or launch an investigation lasting up to four months.

Shares of Qualcomm were down slightly during Friday's afternoon session.

(NXP Semiconductors is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of Cramer's holdings with a free trial.)

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