Silicon Motion, Tower Semiconductor fall on report of slowdown in China deal reviews
William_Potter
Silicon Motion (NASDAQ:SIMO) fell 2% and Tower Semiconductor ticked down 0.5% on a report that China has slowed down its reviews of U.S. deals. 
Chinese regulators have recently slowed down merger reviews in a number of proposed U.S. deals, including Tower Semi's (TSEM) $5.2 billion sale to Intel (INTC), which was announced last February, and MaxLinear's (MXL) planned $3.8 billion acquisition of Silicon Motion (SIMO), announced in May, according to a WSJ report, which cited people close to the process.
China's antitrust regulator, the State Administration for Market Regulation, has asked companies to make available in China products they sell in other countries as a precondition for approving some deals, according to the WSJ report. 
Intel (INTC) reiterated last month in its 10-K released on Jan. 26 on its purchase of Tower Semi (TSME) that âwhile we continue to work to close the Tower transaction within the first quarter of 2023, the transaction may close in the first half of 2023, subject to certain regulatory approvals and customary closing conditions."
Dealreporter late last month said China's review of MaxLinear's (MXL) planned purchase was not in the final stages. The transaction is not close to gaining regulator approval from Chinese antitrust authorities, refuting some recent speculation 
Silicon Motion(SIMO) gained 8.3% on March 16 after the CEO of Silicon Motion (SIMO) rival Phison Electronics said on the company's earnings conference that there was a rumor that the planned sale to MaxLinear (MXL) was nearing approval by China's antitrust regulator.