Nearly a month ago, Qualcomm Inc. and NXP Semiconductors NV refiled paperwork regarding the companies' planned merger at the request of China's Ministry of Commerce (MOFCOM).
The deal, which has gotten the go-ahead from eight of the nine required government regulatory entities, is contingent on China's approval.
Rising trade tensions between the U.S. and China last month appeared to have stymied its progress, but a May 14 report by Bloomberg said Chinese regulators had restarted their review.
NXP stock jumped on the news, closing up nearly 12 percent on May 14. Qualcomm stock rose about 3 percent.
However, contradictory reports published May 15 saw the Qualcomm gains nearly erased.
As of market close May 15, Qualcomm shares were priced just over where the stock closed May 11. NPX stock, however, remained about 11 percent over its May 11 closing price.
The San Diego tech giant first announced its intent to acquire the Dutch chipmaker in October of 2016.
The news of the resumed review was reported the day after President Donald Trump said on Twitter that he intended to assist struggling Chinese telecommunications equipment maker ZTE Corp. - a sentiment that contrasted sharply with his familiar "America First" rhetoric, and some saw as a reflection of a potential softening of his views on the trade relationship between the two nations.
The Wall Street Journal reported May 4 that a joint venture between Qualcomm Inc. and a unit of a telecommunications equipment group owned by the Chinese government — announced nearly a year ago — had received China's approval.
Qualcomm and the telecoms equipment company, Datang Telecom Technology Co., said the San Diego chip giant and Datang subsidiary Leadcore Technology Co. would jointly design chipsets for smartphones to sell to consumers in China.
Reach reporter Sarah de Crescenzo at email@example.com.