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IFX - Infineon Technologies AG News Story

€29.89 -0.6  -1.9%

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Sector
Technology
Size
Large Cap
Market Cap £34.05bn
Enterprise Value £37.25bn
Revenue £8.58bn
Position in Universe 36th / 1053

FACTBOX-Pending mergers and acquisitions involving U.S. firms that need Chinese approval

Fri 23rd August, 2019 9:20pm
NEW YORK, Aug 23 (Reuters) - U.S. President Donald Trump
said on Friday he has ordered American companies to exit China
after Beijing unveiled retaliatory tariffs on $75 billion worth
of U.S. goods, in a new twist in the bitter trade war between
the world's two largest economies.
    Trump gave no detail on how he might proceed with his order,
as he cannot legally compel U.S. companies to abandon China
immediately. He said he would be offering a response to
Beijing's move later on Friday.
    Below are mergers and acquisitions between U.S. and
international companies that have been announced and are waiting
for regulatory approval from China's State Administration for
Market Regulation in order to close, because they have
significant operations in China.
    
Nvidia/Mellanox - In March, U.S. chip supplier Nvidia Corp
 NVDA.O  agreed to buy Israeli chip designer Mellanox
Technologies Ltd  MLNX.O  for $6.8 billion, beating rival Intel
Corp  INTC.O  in a deal that would help the firm boost its data
center and artificial intelligence business. 
    
Merck/Versum - In April, Merck KGaA  MRCG.DE  won the backing of
Versum's  VSM.N  board for a sweetened $6.5 billion takeover
proposal, overturning an agreed merger with rival Entegris
 ENTG.O  as it bets on a recovery in electronic materials
markets.
    
AbbVie/Allergan - Drugmaker AbbVie Inc  ABBV.N  said in June it
would acquire Allergan Plc  AGN.N  for about $63 billion, giving
AbbVie control over the lucrative wrinkle treatment Botox and
buying time to seek new growth before its blockbuster arthritis
treatment Humira loses U.S. patent protection.
    
Infineon/Cypress - Germany's Infineon  IFXGn.DE  in June agreed
to buy Silicon Valley-based Cypress Semiconductor  CY.O  for $10
billion, in an expensive move by Europe's largest chip-maker to
expand further in next-generation automobiles and Internet
technologies.    

II-VI/Finisar - Laser and optical parts maker II-VI Inc  IIVI.O 
said in November 2018 it would buy Apple Inc supplier Finisar
Corp  FNSR.O  for about $3.2 billion to grab a bigger slice of
5G investments and sell more sensors for iPhones and driverless
cars.

 (Reporting by Greg Roumeliotis
Editing by Sonya Hepinstall)
 ((anna.driver@thomsonreuters.com; 646-223-4342; Reuters
Messaging: anna.driver@thomsonreuters.com@reuters.net))
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