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China Kills Qualcomm's $44B Deal for NXP

$44 billion tech deal just became the latest casualty in the escalating US-China trade war

Qualcomm confirmed it was terminating its proposed takeover of Dutch counterpart NXP on Thursday after China failed to grant it regulatory approval. Qualcomm said it would proceed with a stock buyback of up to $30 billion that it had promised shareholders should the NXP deal fall apart. NXP also announced Thursday that it would buy back shares worth $5 billion.

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