President Trump to rule on Lattice's China deal

FPGA vendor Lattice Semiconductor Corp. (Portland, Ore.) has said that the Committee on Foreign Investment in the United States ("CFIUS") has indicated that it will recommend that the President of the United States suspend or prohibit the proposed takeover of Lattice by a wholly-owned subsidiary of Canyon Bridge, a private equity fund with China-based investors.

By Peter Clarke, eeNews, Sept. 04, 2017 – 

Historically US Presidents have rarely if ever countermanded a CFIUS recommendation and they have 15 days from the date of the recommendation to deliver their judgment.

Lattice announced the deal back in November 2016 but has struggled to move it forward while it has been under scrutiny from CFIUS, which has in recent times been more inclined to block deals.

Lattice said that its view remains that the proposed transaction does not raise any national security concerns that cannot be addressed by the comprehensive mitigation measures that Lattice and Canyon Bridge have proposed to implement. Under the Defense Production Act of 1950, as amended, if CFIUS recommends that a transaction be prohibited or suspended, the President of the United States must render his decision to suspend, prohibit or allow the proposed transaction within 15 calendar days.

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