Qualcomm denied the possibility of rebooting the acquisition of NXP

Though president Xi expressed his willingness to shine a green light on the case approval of Qualcomm-NXP acquisition, Qualcomm officially dropped the olive branch, in a press release stating that they have no further desire to do it all over again. The deal dating back to Oct. 2016 when Qualcomm initiated an offer to buy NXP, which was never granted a permit by China’s administration within the specific deadline, which in part led to speculation that China was preventing mergers between technological leaders which could result in the creation of invincible giants.