China’s Fujian Grand Chip Investment Fund has dropped its takeover bid for chip equipment maker Aixtron after the United States blocked the deal on security grounds, throwing the German company’s future into doubt. According to Reuters, the collapse of the Aixtron deal comes amid growing objections in Germany and the United States to China buying up firms with strategic technologies abroad without allowing reciprocal transactions at home. Fujian’s takeover vehicle Grand Chip Investment said on Thursday its offer had lapsed as it had failed to obtain the necessary US regulatory approvals. The 670 million euro ($723 million) takeover offer announced in May was already in doubt after the German government withdrew its approval in October, reportedly at the bidding of the United States.
Categories