Friday, December 2, 2016

Circles: Obama wants to Veto Aixtron’s Acquisition by Chinese – FOCUS Online

circles: Obama wants to Veto Aixtron Takeover by the Chinese,

Friday, 02.12.2016, 08:41

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US President Barack Obama wants to block, the proposed Acquisition of the German specialty machinery maker Aixtron by a Chinese company.

The White house will endorse the recommendation of the US Agency for foreign investment (CFIUS), and due to concerns for national security, a Veto on the business of loading, reported the news Agency Bloomberg on Friday, citing the case of familiar people. It would be only the third Time since 1990 that a U.S. President of a company that prevents a takeover by a foreign Investor. The deadline for Obama’s decision runs early Saturday morning German time.

the Background for the expected Veto are fears that Aixtron’s products could also be military. The US government has a say, because the company is based in Herzogenrath near Aachen has also had a Branch in California with approximately 100 employees. The Chinese company Grand Chip Investment (GCI) had submitted a takeover offer of about 670 million Euro for Aixtron. Federal Economics Minister Sigmar Gabriel (SPD) had agreed to the Deal, the safety statement, but at the end of October, and a re-examination of the project announced. Aixtron’s for a long time in the crisis. Of the Takeover by the Chinese, the company promises new perspectives.

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