Alphawave says key regulatory approvals received for Qualcomm takeover

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Alphawave IP Group PLC on Tuesday said several regulatory conditions for its recommended takeover by Qualcomm Inc have now been satisfied, allowing the transaction to progress to the court-sanction stage.

The London-based semiconductor designer said the US Hart-Scott-Rodino waiting period expired on October 22, while Germany’s Federal Cartel Office confirmed on Monday that its prohibition criteria were not met.

The Canadian Competition Act waiting period also expired on November 14.

Alphawave said the only remaining regulatory approval relates to merger control clearance in South Korea. The company expects this to be satisfied or waived before the court hearing to sanction the scheme, scheduled for December 16.

Subject to that approval, the scheme is expected to become effective on December 18. Election deadlines for alternative consideration options fall on December 9 and December 15.

Further updates will be announced via a regulatory information service, Alphawave added.

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