Canyon Bridge Capital Partners, the China-backed buyout fund that agreed to acquire Lattice Semiconductor Corp in November for $1.3 billion, will submit the deal for US review for the third time, people familiar with the matter told Reuters. The move comes as Canyon Bridge seeks to get the deal approved by the Committee on Foreign Investment in the United States (CFIUS), a government panel which reviews corporate acquisitions for potential national security risks. Canyon Bridge has been seeking to convince CFIUS that it will run Lattice without influence from the Chinese state. Several US lawmakers expressed concerns about the deal after Reuters reported last year that Canyon Bridge is funded by cash originating from China’s central government. Few deals have ever filed for CFIUS review three times. However, vacancies left in senior positions at several government agencies, almost five months after the inauguration of US President Donald Trump, have reduced CFIUS’ capacity to review cases.
China Economic Review