WSJ: China near approval for Qualcomm's NXP acquisition; NXPI +6.5%

|About: NXP Semiconductors (NXPI)|By:, SA News Editor

China is ready to approve Qualcomm’s (NASDAQ:QCOM) acquisition of NXP Semiconductors (NASDAQ:NXPI), according to a Wall Street Journal source.

Key quote from source: “The deal should be cleared very soon.”

Chinese regulators are reportedly working with Qualcomm’s legal team on “technical details” needed for the approval. 

Qualcomm shares are up 4.5% premarket to $62.50.

NXP gains 6.5% to $122. 

Previously: Tech stocks gain as US confirms ZTE deal (June 7)

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