NXP buy-out tension rises for local staff

It is all or nothing for the acquisition of Dutch computer chip company, NXP, by Qualcomm, its American competitor.

The period in which the deal must be settled expires just before 06:00, Dutch time, on Thursday. If that fails, the transaction, worth more than EUR37.5 billion, will not go ahead. Shareholders and virtually all supervisors have agreed already.

Approval from China is now being awaited. The acquisition has been set to happen since October 2016. NXP has 31,000 employees in 33 countries, but the company was started in Eindhoven. In 2006, the company split from Philips.

The Head Office is still located on the High Tech Campus. Two hundred people still work there, and more than 700 people still work in the Research and Development Department. The acquisition could have major consequences for the employees at, especially, the Head Office.

Source: www.studio040.nl

Translated by: Bob

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