Qualcomm says it will drop $43 bn bid for Dutch chip rival NXP

US computer chip giant Qualcomm said Wednesday it was set to drop a $43 billion acquisition of Dutch rival NXP after failing to win approval of antitrust authorities in China. Qualcomm had extended the deadline several times for the tie-up which would have given the dominant smartphone chipmaker firm a broader array of products including sensors and microprocessors for connected "internet of things" devices. According to Qualcomm, the acquisition of NXP has received antitrust clearance from eight of the nine required government regulatory bodies around the world, with the matter still pending in China.

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