There’s word that the Japan Fair Trade Commission will approve of Qualcomm‘s $38 billion buyout plan for NXP Semiconductors and that the European Commission could rubber-stamp the deal before the new year, according to a Reuters source.

The European Union’s competition regulator is expected to decide on the deal no later than March 15. Qualcomm is said to be willing to make a few concessions to appease Brussels such as not buying NXP’s standard essential patents, design compatibility into related products so that competing items can work with them and holding off any litigation on NFC-related issues, a technology that NXP co-created.

Qualcomm is looking to defend itself from Broadcom’s recent takeover bid of $130 billion, which the San Diego-based chipmaker claims “undervalues” the company. That’s not to say that Qualcomm would not accept a higher bid.

A combined NXP-Qualcomm-Broadcom would supply wireless modem and controller chips to global smartphone and smart automobile OEMs — including some for military clients. Qualcomm already has caught the ire of Apple as well as competitive concerns from regulators for its handling of CDMA chips.

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