Chinese buyer ‘gives up’ on Lattice, eyes EU deals

The vendor of US semiconductor manufacturer plans a direct appeal to President Trump, but Beijing-backed Canyon Bridge Capital is already looking elsewhere for deals.

The fate of a highly-watched Chinese buyout of a US chipmaker is now in the hands of US President Donald Trump, but FinanceAsia can reveal the Chinese bidder has given up its hope of the deal possibly getting through.

Lattice Semiconductor, a chip manufacturer and Portland, Oregon’s largest tech company by market cap, wanted to sell to Beijing-backed private equity house Canyon Bridge Capital Partners for $1.3 billion. The deal, announced in November, had been expected to close in early 2017.

The process of getting regulatory approval has, however, dragged on. Lattice and Canyon have three times referred the case to the Committee on Foreign...

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