China slams M&A block from US
2017-09-15 07:54:10 source：Global Times
September 14, 2017
China on Thursday criticized US President Donald Trump's decision to block a planned acquisition of a US semiconductor company by a Chinese-backed investment fund, urging the US not to use national security as a protectionist tool in reviewing mergers and acquisitions in sensitive sectors, and to treat Chinese firms fairly.
Trump's rare move to use presidential power to prevent the purchase of Lattice Semiconductor by a Chinese investor will have a very limited impact on China's development of the semiconductor industry but could slow down M&As in the US by Chinese firms, which in turn, could hurt US firms and its economy, experts added.
Citing national security concerns, Trump on Wednesday blocked Canyon Bridge Capital Partners LLC's $1.3 billion bid to acquire the US semiconductor company. That's only the fourth time a US president has banned a merger in over a quarter of a century, according to US media.
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