China chip hopes thwarted as Fairchild rejects bid

US chipmaker Fairchild Semiconductor rejected a $2.6 billion bid from a Chinese consortium citing national security concerns.

China chip hopes thwarted as Fairchild rejects bid

China’s huge acquisitive interest in foreign semiconductor assets is not going as smoothly as it would wish after Fairchild Semiconductor turned down a $2.6 billion joint bid from a Chinese consortium on Tuesday.

The American chipmaker rejected a $21.7-per share bid from a consortium formed by China Resources Microelectronics and Hua Capital Management, casting some doubt over whether it would be approved.

“The board concluded that there is some non-negligible risk of...

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