Planned investigation scuttles Chinese firm's investment in Western Digital

American computer data storage firm Western Digital Corp revealed on Tuesday that Unisplendour Corp, a unit of China’s state-backed Tsinghua Holdings, had withdrawn its planned investment of US$3.78 billion after the US Committee on Foreign Investment said it would investigate the deal, Reuters reported. The US maker of hard-disks and other memory devices will now present an alternative offer valued at US$15.78 billion to rival SanDisk Corp. Chinese mergers and acquisitions of American corporations have already hit a record value of US$23 billion in 2016 – nearly twice the total for all of 2013 – but such deals are also receiving increased scrutiny from US politicians.