dailycaller
Ryan Pickrell
China/Asia Pacific Reporter
2:31 PM 02/23/2018
[excerpt]
http://dailycaller.com/2018/02/23/chinese-business-deals-fall-apart/Another Chinese acquisition fell apart Thursday after the deal met resistance from U.S. regulators determined to prevent business from threatening American national security.
U.S. chip company Xcerra and Hubei Xinyan Equity Investment Partnership, an investment group with funding ties to the Chinese government, abandoned an acquisition deal after realizing that approval by the Committee on Foreign Investment in the United States (CFIUS) was unlikely.
“Our transaction with Xinyan was about enabling Xcerra to accelerate its growth in the China market as well as broadening and strengthening our customer relationships around the world,†Xcerra Chief Executive Dave Tacelli said Thursday. “We are disappointed that we were not able to receive approval from CFIUS on this transaction.â€