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NXP Semiconductors provides update on Sound Solutions transaction

NXP Semiconductors has provided an update on the status of its Sound Solutions sale.

29 March 2011

Dutch chip maker NXP Semiconductors has provided an update on the state of its business negotiations with Dover over the sale of Sound Solutions.

The company noted that a non-US and non-EU governmental antitrust regulator has asked for additional information in regard to the sale.

In a move that could see negotiation strategies employed, the unnamed party has requested extra briefings in regard to the transaction between NXP and Dover affiliate Knowles Electronics.

"As a result, NXP and Dover Corporation currently expect the transaction to close around the middle of the second quarter of 2011, subject to regulatory approval," the Dutch firm said.

It went on to reveal that, besides the aforementioned antitrust procedure, all other conditions and actions in regard to the sale are complete and stand "ready to be implemented".

However, NXP did concede that there can be no guarantee antitrust clearance will be given.

EU competition commissioner Joadquin Almunia recently suggested that greater scrutiny could be required in regard to a proposed merger between Deutsche Borse and NYSE Euronext.

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