2023-06-27 09:14:57 ET
- Silicon Motion ( NASDAQ: SIMO ) rose 4% in premarket trading amid a report that MaxLinear's ( NASDAQ: MXL ) deal is nearing approval from Chinese antitrust regulators.
- The $3.8 billion acquisition of Silicon Motion is nearing completion as approval from China's antitrust regulator is just a "step away," according to traders, who cited a headline from DigiTimes that was circulating on Tuesday, which cited market sources.
- The latest update comes after Dealreporter on Monday said the transaction had been given the go ahead by two Chinese regulators, though the deal still needs approval from China's antitrust regulator, the State Administration for Market Regulation.
- Developing story ...
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Silicon Motion gains on report MaxLinear deal nearing Chinese approval