President Donald Trump blocked a Chinese-backed investor frombuying Lattice Semiconductor Corp., casting a cloud over Chinesedeals seeking U.S. security clearance and spurring a call forfairness from Beijing.

It was just the fourth time in a quarter century that a U.S.president has ordered a foreign takeover of an American firmstopped on national security concerns. Trump acted on therecommendation of a multi-agency panel, the White House and theTreasury Department said Wednesday. The spurned buyer, CanyonBridge Capital Partners LLC, is a private-equity firm backed by aChinese state-owned asset manager.

The Trump administration has maintained a tough stance againstChinese takeovers of American businesses even as it seeks China'shelp to resolve the North Korean nuclear crisis. Other deals underreview include MoneyGram International Inc.'s proposed sale to AntFinancial, the financial services company controlled by Chinesebillionaire Jack Ma. The government is also examining anagreement by Chinese conglomerate HNA Group Co. to buy a stake inSkyBridge Capital LLC, the fund-management firm founded by AnthonyScaramucci, who was briefly Trump's White House communicationsdirector.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.