Apple Supplier NXP Sells RF Unit To Help Close Merger
Apple (AAPL) chip supplier NXP Semiconductors (NXPI) is selling its RF power business to China’s JianGuang Asset Management (JAC Capital) for $1.8 billion, a move to satisfy concerns over its pending acquisition of peer Freescale Semiconductor (FSL). NXP shares rose 0.4% to 111.16, reaching another new high in the stock market today. NXP cleared a 105.04 buy point on May 21. On Wednesday, the stock cleared another buy point of 108.60 with a 3.5%