AON - China unlikely to clear deals in August as antitrust officials take vacations - report

China is unlikely to approve any big deals this month as officials at the antitrust agency are off for vacation, according to a report. Ministers at China's State Administration for Market Regulation or SAMR typically take time off in August, though the length may be longer than usual this year due to a recent Covid-19 outbreak in the country, according to Dealreporter, which cited sources familiar. Some major deals in the U.S. that still need to be approved by China are AMD's (NASDAQ:AMD) planned purchase of Xilinx (NASDAQ:XLNX), Analog Devices'(NASDAQ:ADI) acquisition of Maxim Integrated (NASDAQ:MXIM) and II-VI's (NASDAQ:IIVI) purchase of Coherent (COHR). Spreads of these deal stocks widened sharply yesterday possibly partly after a Dealreporter column suggested there has been a slowdown in China's review of U.S. deals and generally as risk arb traders appear to be de-risking after Aon (NYSE:AON) and Willis Towers Terminated (NASDAQ:WLTW) terminated their merger. Last week

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China unlikely to clear deals in August as antitrust officials take vacations - report