- Maxim Integrated (NASDAQ:MXIM) rose slightly on a report that China's antitrust regulator may be further along in its review on Analog Devices (NASDAQ:ADI) planned Maxim acquisition. Analog Devices fell almost 2%.
- The staff of China's State Administration for Market Regulation or SAMR is said to have submitted the review to the ministerial level, according to traders, who cited a report that is circulating among M&A investors.
- No major issues were found and the deal is expected to get unconditional clearance, according to a recounting of the report.
- This same source originally reportedly said in May that the deal was getting close to Chinese antitrust approval and in early July reportedly said that timing for the approval may be moved out.
- Traders are eagerly awaiting Chinese approval for the deal as a barometer for two other deals that also need China antitrust clearance, including AMD's (NASDAQ:AMD) planned purchase of Xilinx (NASDAQ:XLNX) and II-VI's (NASDAQ:IIVI) planned acquisition of Coherent (NASDAQ:COHR).
- Today's speculation comes after Dealreporter said earlier this month that China was unlikely to clear deals in August as antitrust officials take vacations.
- Analog Devices is scheduled to release fiscal Q3 results tomorrow premarket.