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US: Surprising go-ahead for Chinese acquisition of Pennsylvania semiconductor firm

 |  January 18, 2018

The Chinese acquisition of a US semiconductor equipment maker has been given the surprise green light by US officials, despite the increased scrutiny of sensitive Chinese investments in the country.

A number of Chinese acquisitions have collapsed since last year as the US government increased its scrutiny citing national security concerns.

But Naura Microelectronics Equipment, a Beijing-based microchip company, has now completed its takeover of Pennsylvania-based Akrion Systems, a manufacturer of semiconductor devices, according to Naura.

“As far as we are aware, this is the first Chinese acquisition of a US company to be approved by CFIUS under the Trump administration,” a Reuters report quoted Fang Xue, partner for Gibson Dunn & Crutcher and one of the deal lawyers representing Naura, as saying on Thursday, January 18.

Full Content: Financial Times

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