Steve Mollenkopf doesn’t seem like the kind of guy who rattles easily, no matter how big the stakes are.
The CEO of Qualcomm tells Fortune he is not worried about regulators delaying approval of his $47 billion offer to buy NXP Semiconductor. If it gets the okay, it would be the largest deal in the semiconductor industry. The combined company could be a big player in providing massive innovations for everything from everyday appliances and devices to cars and healthcare. “We kinda expect to go through really all the steps in order to get approval,” he says. And Mollenkopf is also not concerned about shareholder rumblings for more money on the $110 a share price he’s offering. “It’s not unusual in a deal of this size,” he says.
Nor does he seem worried about a big lawsuit from Apple over licensing fees and royalties. Earlier this year, Apple filed an antitrust suit against Qualcomm arguing that the chipmaker’s licensing practices are unfair, and that it abused its position as the largest supplier of chips in phones. Apple cut off licensing payments to Qualcomm, approximately $2 billion a year in revenue. Now Qualcomm has filed lawsuits in China to ban the sale and manufacture of iPhones in the Asian nation, claiming patent infringement. But Mollenkopf hinted that the nasty dispute could be resolved outside of court. “Clearly a lot of money is involved for both companies,” he says, “but you know those things get settled. Sometimes you have to go to the courtroom steps and sometimes it happens earlier.”
Watch the video above to hear more of our conversation with the CEO.
