WASHINGTON (Legal Newsline) — After a public comment period, the Federal Trade Commission (FTC) has approved a final order that settles charges with NXP Semiconductors NV over allegations its pending acquisition would harm market competition.
NXP sought to acquire Freescale Semiconductor Ltd. for $11.8 billion. Under the order, NXP will be forced to divest all its assets primarily used for manufacturing, research and development of RP power amplifiers to Jianguang Asset Management Co. Ltd., a Chinese private equity firm.
The commission voted 4-0 to approve the final order.
The FTC seeks to promote competition and work to protect and educate consumers.