
Please try another search
FRANKFURT (Reuters) - German semiconductor equipment maker Aixtron will explore with its Chinese suitor what can be salvaged of the planned takeover after a U.S. presidential order ruled the deal posed a national security risk, the company said on Saturday.
U.S. President Barack Obama blocked China's Fujian Grand Chip Investment Fund (FGC) from acquiring Aixtron's U.S. business, the Treasury Department said on Friday.
"The bidder and Aixtron are evaluating the impact of the Order on the conditions to be fulfilled under the takeover offer and will coordinate with the German Federal Financial Supervisory Authority (BaFin) to examine the consequences of the Order on the takeover process," Aixtron said in a statement.
It added the presidential order was limited to Aixtron's U.S. business and did not per se prohibit the acquisition of Aixtron shares and American depositary shares FGC.
Aixtron has previously said that scrapping the proposed deal would mean it would have to cut costs and jobs would be at risk.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.