- MaxLinear ( NASDAQ: MXL ) was asked by China's antitrust regulatory to refile for its planned $3.8 billion purchase of Silicon Motion ( NASDAQ: SIMO ) under "normal procedure."
- On Wednesday, China's State Administration for Market Regulation requested that the parties refile under normal procedure, according to an 8-K filing. MaxLinear ( MXL ) and Silicon Motion ( SIMO ) can't predict the length of review under the normal procedure, but expect a final determination by SAMR in the second or third quarter of 2023, or even later.
- The SAMR request comes after MaxLinear ( MXL ) last month filed its planned acquisition of SIMO under simplified procedure in China. The companies made a filing to SAMR on July 6, according to an amended proxy filing. The companies said at the time that they believed that the transaction is eligible for a "simplified" filing in China.
- MaxLinear ( MXL ) and Silicon Motion ( SIMO ) received U.S. antitrust approval for the transaction in late June when the waiting period under the Hart-Scott-Rodino antitrust act expired.
- Earlier Wednesday Silicon Motion ( SIMO ) shareholders approved the acquisition by MaxLinear ( MXL ).
For further details see:
MaxLinear to refile Silicon Motion deal under normal procedure in China