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Chipmaker NXP to buy Freescale in US$11.8b deal

"The combination of NXP and Freescale creates an industry powerhouse focused on the high-growth opportunities in the smarter world," says Mr Clemmer, NXP's CEO.

New York

NXP Semiconductors said that it would buy a smaller peer, Freescale Semiconductor, in an US$11.8 billion deal that would create a big maker of chips for industries as varied as automobiles and mobile payments.

The merger will also offer some relief to the private equity