Infineon: CFIUS authorises Cypress takeover
(CercleFinance.com) - The Committee on Foreign Investment in the US (CFIUS), which reviews foreign takeovers of US companies, has authorised the takeover of Cypress Semiconductor Corporation by Infineon Technologies.
The closing of the merger remains subject to approval by the Chinese administration for market regulation (SAMR) and the other usual closing conditions provided for by the merger agreement.
Remember that Bloomberg announced last Friday that US national security officials recommended that President Donald Trump block Infineon Technologies' acquisition of Cypress Semiconductor.
Officials believed that Infineon's takeover of the US chipmaker posed a risk to national security, three people familiar with the case told Bloomberg.
Note that Infineon makes a significant proportion (around a third) of its sales in China.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The closing of the merger remains subject to approval by the Chinese administration for market regulation (SAMR) and the other usual closing conditions provided for by the merger agreement.
Remember that Bloomberg announced last Friday that US national security officials recommended that President Donald Trump block Infineon Technologies' acquisition of Cypress Semiconductor.
Officials believed that Infineon's takeover of the US chipmaker posed a risk to national security, three people familiar with the case told Bloomberg.
Note that Infineon makes a significant proportion (around a third) of its sales in China.
Copyright (c) 2020 CercleFinance.com. All rights reserved.