2023-06-21 10:41:11 ET
The deal spread in MaxLinear's ( NASDAQ: MXL ) planned purchase of Silicon Motion ( NASDAQ: SIMO ) narrowed amid a report of potential progress in China's antitrust review of the deal. The spread narrowed to $34.75 from $38.95 on Tuesday.
The parties are said to be in discussions to address industrial concerns, talks with third parties are ongoing; and there has been an active dialogue with China's antitrust regulator over the past weeks, according to traders, who cited a report that was circulating on Wednesday. Some also said that commitments had been submitted.
The latest update comes after reports late last month of progress as far as China's review of the $3.8 billion purchase of Silicon Motion ( SIMO ). MaxLinear ( MXL ) was said to be making some progress on a remedy proposal with China's State Administration for Market Regulation for its Silicon Motion ( SIMO ), according to a Capitol Forum report last month. Another report said that the companies were starting to make progress with Chinese third parties.
A report in late April indicated that SAMR had "stopped the clock" to give it more time to address some issues raised by Chinese semiconductor customers.
More on MaxLinear/Silicon Motion
- MaxLinear: Worst Is Priced In, Upgrade To Buy
- Why Silicon Motion Technology's Stock Is A Good Hedge Against Potential Downside
- Silicon Motion falls on report about status of China's review of MaxLinear deal
- Silicon Motion Technology Q1 misses top and bottom consensus
- Silicon Motion downside risk limited in potential MaxLinear deal break - analyst
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Silicon Motion/MaxLinear spread narrows amid latest report on China review