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Chipmaker MaxLinear Terminates Acquisition of Taiwan’s Silicon Motion

(Bloomberg) — MaxLinear Inc., a maker of chips for broadband communications, said it terminated its attempt to acquire Silicon Motion Technology Corp., ending a cash-and-stock deal worth $3.8 billion.

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The Carlsbad, California-based company said in a statement Wednesday that Taiwan-based Silicon Motion failed to complete some of the conditions of closing, suffered a “material adverse effect,” and is in breach of agreements.