© The White House Business | September 14, 2017

Trump put a stop to the acquisition of Lattice

Lattice Semiconductor has officially announced the termination of the acquisition by Canyon Bridge Capital Partners, following an order from the President of the United States.

“The Committee on Foreign Investment in the United States (CFIUS) referred the transaction with Canyon Bridge to the U.S. President for a decision, having been unable to come to an agreement with the parties on mitigation measures. After consideration, the President prohibited the proposed transaction on the recommendation of CFIUS in an executive order dated September 13, 2017,” Lattice Semi writes in a press release. Darin G. Billerbeck, CEO of Lattice Semiconductor, says in the press release that the transaction with Canyon Bridge was in the best interests of the company’s shareholders, customers as well as its employees and that this would ultimately lead to more jobs in the US. “We also believe our CFIUS mitigation proposal was the single most comprehensive mitigation proposal ever proposed for a foreign transaction in the semiconductor industry and would have maximized United States national security protection while still enabling Lattice to accept Canyon Bridge’s investment and double American jobs. While it is disappointing that we were not able to prevail, the Board and I would like to thank Canyon Bridge for their support during this time.” said Darin G. Billerbeck. The company will now continue to focus on initiatives that will contribute to Lattice’s long term success, and pointing specifically to areas where its low power, small form factor devices create advantages. Darin G. Billerbeck ends the press release saying that; “we remain committed to achieving profitable growth by extending processing and connectivity solutions beyond our core business. Lattice’s future remains bright.”
The full text of the order is accessible here.
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