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NXP Semiconductors Gains 2%, Co. Said To Be Exploring $2 Billion Asset Sale

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According to a report by Bloomberg, NXP Semiconductors NV (NASDAQ: NXPI) may be looking for a buyer to acquire its $2 billion standards products business.

NXP Semiconductors' standards products business is responsible for the mass production of chips used in phones, television sets and cars.

Bloomberg, citing "people familiar with the matter," stated that NXP Semiconductor's unit is attracting interest from Chinese suitors, including JAC Capital - a Beijing-based investment firm.

JAC Capital and NXP Semiconductor already have a prior working relationship. The investment firm acquired NXP's radio frequency chip unit last year for $1.8 billion.

Shares of NXP Semiconductors were trading higher by more than 2 percent early Friday morning.

Posted-In: Bloomberg JAC Capital NXP Semiconductors Semiconductor ChipsNews Rumors Asset Sales

 

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