AIXTRON SE (AIXG) announced Friday that the investigation period for the Committee on Foreign Investment in the United States or CFIUS to review the tender offer by Grand Chip Investment GmbH or GCI lapsed on November 17, 2016.
AIXTRON said that CFIUS informed GCI and Aixtron that there are unresolved U.S. National security concerns regarding proposed transaction. CFIUS informed parties that it plans to recommend to the U.S. President that the transaction be prohibited due to security concerns.
As a consequence thereof, CFIUS recommended the parties request withdrawal of their notice and abandon the entire transaction.
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 U.S.President to resolve outstanding U.S. national security concerns or to take other alternative measures that could allow the parties to proceed with the transaction.
Both, GCI and AIXTRON have decided not to follow such recommendation as a result of which the matter has been referred to the U.S. President for decision in line with CFIUS statutes.
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