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Electronics Production | March 28, 2011

NXP: Sale of Sound Solution business delayed to 2Q

A non-U.S. and non-EU governmental antitrust regulator has requested additional briefings in connection with its review of the sale of NXP's Sound Solutions business to Knowles Electronics, an affiliate of Dover Corporation.
As a result, NXP and Dover Corporation currently expect the transaction to close around the middle of the second quarter of 2011, subject to regulatory approval. Apart from the antitrust procedure referred to above, all other closing conditions and actions have been completed in all material respects and are ready to be implemented.

As before, there is no assurance that antitrust clearance will be obtained.

NXP and Dover Corporation previously anticipated, subject to regulatory approvals and customary closing conditions, the transaction would likely close on or about the end of the first quarter of 2011.

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