The Federal Trade Commission has thrown a regulatory wrench into the semiconductor industry’s latest blockbuster: FTC $22B Chip Giant merger suit has effectively paused the planned union of U.S. rivals Skyworks Solutions Inc. and Qorvo Inc., a deal that would have created a $22 billion powerhouse in radio frequency and analog semiconductors.
In filings with the U.S. Securities and Exchange Commission on Thursday, both companies disclosed they received a “second request” from the FTC — a move that suspends the standard 30-day merger review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Second Request Extends Scrutiny
The issuance of the second requests extends the HSR waiting period until 30 days after both companies have substantially complied, unless the parties agree to an earlier termination or the FTC acts sooner, Qorvo noted. Both companies said they are cooperating fully with the antitrust agency.
Qorvo also cautioned that the deal faces scrutiny from international regulators, highlighting the global ripple effects of semiconductor consolidation.
