Trump bars Chinese-backed firm from buying US chipmaker

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Trump bars Chinese-backed firm from buying US...
 © In-Cyprus 2018
U.S. President Donald Trump blocked a Chinese-backed private equity firm from buying a U.S.-based chipmaker on Wednesday, sending a clear signal to Beijing that Washington will oppose takeover deals that involve technologies with potential military applications.

Canyon Bridge Capital Partners’ planned $1.3 billion acquisition of Lattice Semiconductor Corp was one of the largest attempted by a Chinese-backed firm in the U.S. microchip sector and was the first announced deal for the buyout fund, which launched last year with a focus on technology investment.

U.S. regulatory scrutiny grew after Reuters reported in November that Canyon Bridge was funded partly by capital from China’s central government and had indirect links to its space program.

U.S. defence officials subsequently raised concerns about the Lattice acquisition by a firm backed by the Chinese government.

Portland, Oregon-based Lattice makes chips known as field-programmable gate arrays,...


This article was automatically added to our system 14-9-2017

Trump bars Chinese-backed firm from buying US chipmaker


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