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Marvell, Cavium merger's 'Mofcom termination fee' shows growing importance of Chinese clearance

By MLex Staff ( November 28, 2017, 08:02 GMT | Insight) -- US telecoms company Marvell Technology Group announced last week that it would acquire chipmaker Cavium for $6 billion. In addition to the normal break-up fees that feature in M&A deals, the companies included a "Mofcom termination fee" provision, highlighting the growing importance of Chinese merger clearance in global transactions, according to antitrust and M&A lawyers.The newly filed plan by US telecoms company Marvell Technology Group to acquire chipmaker Cavium includes a provision for a "Mofcom termination fee" alongside the usual breakup fees, highlighting the growing importance of Chinese merger clearance in global transactions, antitrust and M&A lawyers say. ...

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