Trump admin blocks Chinese buyer from taking over US tech firm

New York Post | 9/13/2017 | Staff
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Citing national security concerns, President Trump on Wednesday blocked a Chinese-backed investor from buying Lattice Semiconductor Corp. — only the fourth time a president has stopped a foreign takeover in 27 years.

The would-be buyer, Canyon Bridge Capital Partners LLC, is a private-equity firm backed by a Chinese state-owned asset manager, Bloomberg reported.

Administration - Commitment - Actions - Protection - US

“Consistent with the administration’s commitment to take all actions necessary to ensure the protection of US national security, the president issued an order prohibiting the acquisition,” Treasury Secretary Steve Mnuchin said in a statement.

The Trump administration has maintained the US’s tough stance against Chinese takeovers of American businesses even as it seeks the country’s help to resolve the North Korean nuclear crisis.

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Other Chinese deals under review include MoneyGram International Inc.’s proposed sale to Ant Financial, the financial-services giant controlled by Chinese billionaire Jack Ma.

The government is also examining an agreement by Chinese conglomerate HNA Group Co. to buy a stake in SkyBridge Capital LLC, the fund-management company founded by Anthony Scaramucci, who...
(Excerpt) Read more at: New York Post
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