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A China-backed private equity fund will seek U.S. President Donald Trump's approval for its proposed $1.3 billion acquisition of U.S. chipmaker Lattice Semiconductor Corp, people familiar with the matter said on Friday. Buyout firm Canyon Bridge Capital Partners' decision comes after it spent eight months trying unsuccessfully to persuade the Committee on Foreign Investment in the United States (CFIUS), a U.S. government panel which scrutinizes deals for potential national security threats, to clear the Lattice deal.
LONDON/BERLIN/FRANKFURT, July 12 (Reuters) - Germany has become the first European Union country to tighten its rules on foreign corporate takeovers, following a series of Chinese deals giving access to Western technology and expertise. The new regulations will allow the German government to block takeovers if there is a risk of critical technology being lost abroad.
The United States should not block Chinese acquisitions of U.S. semiconductor technologies, a leading state think-tank in Beijing said on Wednesday, as Washington heightens scrutiny of Chinese investments in the sector. Acquisitions and joint ventures are becoming more difficult for Chinese firms, Hu Zhijian, president of the Chinese Academy of Science and Technology for Development (CASTED), told reporters in Beijing on Wednesday. "It is not wise for the U.S. to close its doors in industries that are declining in profit ... the United States should step forward and develop new technology areas," said Hu.