Aixtron, Fujian to explore what is left of deal after U.S. veto

Bioxytran

03/12/2016 13:18

FRANKFURT, Dec 3 (Reuters) - German semiconductor equipment 
maker Aixtron  AIXGn.DE  will explore with its Chinese suitor 
what can be salvaged of the planned takeover after a U.S. 
presidential order ruled the deal posed a national security 
risk, the company said on Saturday. 
    U.S. President Barack Obama blocked China's Fujian Grand 
Chip Investment Fund (FGC) from acquiring Aixtron's U.S. 
business, the Treasury Department said on Friday.  urn:newsml:reuters.com:*:nL8N1DX180 
    "The bidder and Aixtron are evaluating the impact of the 
Order on the conditions to be fulfilled under the takeover offer 
and will coordinate with the German Federal Financial 
Supervisory Authority (BaFin) to examine the consequences of the 
Order on the takeover process," Aixtron said in a statement. 
    It added the presidential order was limited to Aixtron's 
U.S. business and did not per se prohibit the acquisition of 
Aixtron shares and American depositary shares FGC. 
    Aixtron has previously said that scrapping the proposed deal 
would mean it would have to cut costs and jobs would be at risk. 
        
 
 (Reporting by Ludwig Burger; Editing by Clelia Oziel) 
 ((ludwig.burger@thomsonreuters.com; +49 69 7565 1311; Reuters 
Messaging: ludwig.burger.thomsonreuters.com@reuters.net)) 
 
Keywords: AIXTRON M&A/CONSEQUENCES