© Aixtron Electronics Production | November 21, 2016
Aixtron / GCI deal - in the hands of the US President
The Committee on Foreign Investment in the United States (CFIUS) think there are unresolved US national security concerns regarding the transaction – and with that it hands over the matter to the US President.
In a press statement, Aixtroin informs that CFIUS did not issue a close-out letter, but rather informed GCI and Aixtron that, from CFIUS’ perspective, there are unresolved U.S. national security concerns regarding the proposed transaction. CFIUS also told the parties that it plans to recommend to the US President that the transaction be prohibited. This based on the committee’s conclusion that there would be no reasonable way to mitigate the US national security risks perceived by CFIUS on the basis of the mitigation proposals submitted by the parties to date. With that said, CFIUS recommended the parties request withdrawal of their notice and abandon the entire transaction. Both, GCI and Aixtron have decided not to follow such recommendation as a result of which the matter has been referred to the US President for decision in line with CFIUS statutes. This means that thePresident must render his decision to block or allow the proposed transaction within 15 calendar days. GCI and Aixtron plan to continue to actively engage in further discussions to explore means of mitigation that may be amenable to CFIUS or the US President to resolve outstanding US national security concerns.
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