GCI Abandons All Acquisition Plans for Aixtron

After President Barack Obama moved to block the proposed acquisition of Aixtron SE’s U.S. business (Ref: article), Grand Chip Investment has abandoned its attempted acquisition.

Grand Chip Investment reported that the offer to acquire Aixtron has lapsed because the agreement requires that Committee on Foreign Investment in the United States (CFIUS) and the U.S. President permit the takeover by Grand Chip Investment. However, President Obama recently chose to block the acquisition based of the advice from CFIUS and the Treasury Department.

For this reason, GCI says that its voluntary public takeover process has come to an end.