Fix Your Memory Module
 
Home
News
Products
Shop
Memory
Corporate
Contact
 

News
Industry News
Publications
CST News
Help/Support
Member Area
Tester Brochure
Demo Library
Software
Tester FAQs

biology medicine news product technology definition

Monday, October 16, 2017
Memory Industry News
Email ArticlePrinter Format PreviousNext

Approval of Lattice sales is now in Trump's hands


Monday, September 04, 2017

President Donald Trump will decide in the next two weeks whether to block a Chinese-backed private equity firm from buying a U.S. chip maker, putting his economic and diplomatic relations with China under a spotlight.

Lattice Semiconductor Corp. said in a filing Friday it will seek Trump's approval for its proposed $1.3 billion sale to Canyon Bridge Capital Partners, gambling that the former real estate dealmaker will approve the tie-up against the advice of the Committee on Foreign Investment in the United States (CFIUS), which scrutinizes foreign deals for national security concerns.

The decision, which the filing said will be made by the White House in the next 15 days, comes at a sensitive time. Relations are already strained between Washington and Beijing over trade and North Korea, and the Chinese communist party is preparing to hold its once-every-five-years congress next month.

The odds are not good for Lattice. If Trump approves the transaction, it would be unprecedented. U.S. presidents, who have the final authority on such investments, have always sided with CFIUS

Lattice makes chips known as field programmable gate arrays, which allow companies to put their own software on silicon chips for different uses. It no longer sells chips to the U.S. military, but its two biggest rivals, Xilinx Inc. and Intel Corp.'s Altera, do.

The United States is also concerned about China's ability to acquire technologies with potential military applications. The U.S. Department of Defense has raised concerns about the Lattice acquisition, two U.S. officials said on the condition of anonymity.

Both officials said it was unclear whether the objections would sway Trump in the face of Chinese warnings that if deals are blocked, Sino-American relations may deteriorate further.

The move to seek Trump's approval, first reported by Reuters earlier on Friday, comes after Lattice and Canyon Bridge, funded in part by Chinas central government, spent eight months trying unsuccessfully to persuade CFIUS to clear the acquisition.

A White House official declined to comment on the Lattice transaction and referred further questions to the Treasury Department, which chairs CFIUS.

Lattice shares rose 0.177 percent to $5.66 on Friday, below the deal's $8.30 offer price.

By: DocMemory
Copyright 2017 CST, Inc. All Rights Reserved

Email ArticlePrinter Format PreviousNext
Latest Industry News
Samsung Electronics CEO resigned10/16/2017
DRAM manufacturers stock rises10/16/2017
ON Semi released new image sensors10/16/2017
Toshiba start to order equipment for new fab10/16/2017
Semiconductor boom mostly benetit U.S. equipment manufacturers10/13/2017
Irish court approved Apple to build $1 billion data center10/13/2017
Western Digital to tap on microwave-assisted magnetic recording10/13/2017
ADI to work with imec on IoT devices10/13/2017
Qualcomm found breach of antitrust regulations in Taiwan court 10/12/2017
ST to build 2 new 300mm fabs10/12/2017

CST Inc. Memory Tester DDR Tester
Copyright © 1994 - 2017 CST, Inc. All Rights Reserved