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Trump Blocks Chinese Acquisition of US Microchip Manufacturer



Screenshot Redstate.com

Image via redstate.com screen capture

Added 09-13-17 09:48:02pm EST - “There is credible evidence that the foreign interest exercising control might take action that threatens to impair the national security of the US.” - Redstate.com

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Posted By TheNewsCommenter: From Redstate.com: “Trump Blocks Chinese Acquisition of US Microchip Manufacturer”. Below is an excerpt from the article.

President Donald Trump blocked a Chinese-backed investor from buying Lattice Semiconductor Corp., a personal rebuke that bodes poorly for several other Chinese buyers seeking U.S. security clearance for their acquisitions.

It was just the fourth time in a quarter century that a U.S. president has ordered a foreign takeover of an American firm stopped because of national-security risks. Trump acted on the recommendation of a multi-agency panel, the White House and the Treasury Department said Wednesday. The spurned buyer, Canyon Bridge Capital Partners LLC, is a private-equity firm backed by a Chinese state-owned asset manager. … The national-security risks posed by the deal included “the Chinese government’s role in supporting this transaction, the importance of semiconductor supply chain integrity to the United States government, and the use of Lattice products by the United States government,” the White House said.

Here's Trump's order blocking the sale of Lattice Semiconductor to a China-backed fund pic.twitter.com/FxX7oDihmh

Trump administration blocks acquisition of Lattice Semiconductor Corporation by Chinese company, citing national security concerns. pic.twitter.com/bqM0sDUl7L

The Trump administration has maintained the U.S.’s tough stance against Chinese takeovers of American businesses even as it seeks China’s help to resolve the North Korean nuclear crisis. Other Chinese deals under review include MoneyGram International Inc.’s proposed sale to Ant Financial, the financial-services company controlled by Chinese billionaire Jack Ma. The government is also examining an agreement by Chinese conglomerate HNA Group Co. to buy a stake in SkyBridge Capital LLC, the fund-management company founded by Anthony Scaramucci, who was briefly Trump’s White House communications director.

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