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Technology Stocks : Silicon Motion Inc. (SIMO)

SIMO 88.60

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12:47 PM EST

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From: franklin1	5/19/2023 10:40:50 AM
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Silicon Motion falls on report about status of China's review of MaxLinear deal May 19, 2023 8:51 AM ET Silicon Motion Technology Corporation (SIMO), MXLBy: Joshua Fineman, SA News Editor 1 Comment Bestgreenscreen/iStock via Getty Images Silicon Motion (NASDAQ: SIMO) dropped 6% in premarket trading on a report that China's antitrust review of MaxLinear's (NASDAQ: MXL) planned $3.8 billion acquisition of SIMO has been suspended for "some time." Silicon Motion ( SIMO) and MaxLinear ( MXL) appear to be having trouble finding a solution that can push the deal ahead, one source told Dealreporter in an item on Friday. It wasn't known exactly when China's State Administration for Market Regulation suspended the clock on its review. If the deal isn't cleared by China regulators by June 27, the deal will have to be re-filed for HSR approval in the U.S. The latest news comes after a report last Wednesday that MaxLinear ( MXL) is said to still be engaging with Chinese third parties, though industry concerns about the combination still exist. A report late last month indicated that SAMR had "stopped the clock" to give it more time to address some issues raised by Chinese semiconductor customers. China's antitrust review of the transaction has dragged on for months. Last month the WSJ reported that Chinese regulators have recently slowed down merger reviews in a number of proposed U.S. deals, including the Silicon Motion/MaxLinear deal.

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