Termination Fees Could Hit Hundreds of Millions
The filings revealed financial stakes if the merger collapses. Skyworks and Qorvo outlined a $298.7 million termination fee should either company back out for a superior proposal or a board recommendation change. In addition, Skyworks must pay Qorvo $100 million if regulatory or antitrust actions block the deal.
“The parties remain committed to working through the regulatory process,” Qorvo said, noting that the transaction still requires shareholder and global antitrust approvals.
Creating a Semiconductor Titan
Announced in late October, the cash-and-stock deal would combine two of the largest U.S. suppliers of radio frequency components, including those used in Apple smartphones. Under the terms, Qorvo shareholders would receive $32.50 in cash plus 0.96 shares of Skyworks stock per share, leaving Skyworks shareholders with roughly 63% of the merged entity.
Both boards have unanimously approved the merger, which is expected to close in early 2027, assuming regulatory and shareholder approvals are met.
Industry analysts note that the combination of Skyworks and Qorvo would consolidate key technologies in high-performance analog and mixed-signal semiconductors, potentially reshaping the global chip landscape — but now the FTC’s probe has put the brakes on the timetable.
