By BizLED Bureau
Dec 9, 2016: Amid controversies and a lot of noise, Grand Chip Investment GmbH (GCI) announced that it has dropped the plan to acquire Aixtron, a leading provider of deposition equipment to the semiconductor industry. GCI said that “the voluntary public takeover offer for the acquisition of all shares, including all shares represented by ADSs, of Aixtron SE by GCI published on July 29, 2016 has lapsed due to the non-fulfillment of an offer condition.”
The GCI announcement said that the offer condition of the clearance of the transaction by the Committee on Foreign Investment in the US (CFIUS) or the US President laid out in Section 4.2.2 (ii) of the offer document has not been fulfilled as a consequence of the order of the President of the US dated December 2, 2016 prohibiting the acquisition of the US business of Aixtron by the Chinese bidder. As a result, the takeover process started by GCI has come to end.