Qualcomm Sets New Date for NXP Deal as China Seeks Concessions

Qualcomm Inc. reapplied for approval from China’s Ministry of Commerce for its purchase of NXP Semiconductors NV and set a new deadline for closing the deal as regulators demanded additional concessions to win approval.

The two companies have extended their agreement until July 25, 11:59 p.m. New York time, Qualcomm said in a statement early April 19. If they haven’t obtained Chinese sign-off by then, Qualcomm will pay NXP the previously agreed termination fee of $2 billion, ending the more than $40 billion deal.

China’s Mofcom said April 19 the proposed acquisition would have substantial impact on the technology industry ...