CLDR - Maxim Integrated falls on report that China's review of Analog Devices taking longer

Sundry Photography/iStock Editorial via Getty Images Maxim Integrated (MXIM) fell 2.4% on a report that timing for China's antitrust approval of Analog Devices's (ADI) acquisition may be moved out. Analog Devices dropped 1.8%. It appears that some customers may have some issues with export controls and the Anti-Monopoly Bureau of China's State Administration for Market Regulation ("SAMR") is trying to remedy the issue, according to traders, who were citing a report that was being circulated around. The deal is still likely to be approved,  it just appears to be taking longer, according to the report. A report also circulated in mid May that the deal was getting closer to gaining Chinese approval and Dealreporter said in late April that Chinese third parties weren't raising major issues. The potential delay comes as China has been cracking down on recently IPO'd ride-hailing firm DiDi in the last few days and SAMR earlier announced fines

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Maxim Integrated falls on report that China's review of Analog Devices taking longer