Obama Poised to Block Chinese Takeover of Germany’s Aixtron - Energy Watch News


Obama Poised to Block Chinese Takeover of Germany’s Aixtron

U.S. President Barack Obama is poised to block a Chinese company from buying Aixtron SE in Germany. Blocking the $714 million acquisition would derail China’s ongoing quest to buy Western engineering prowess, which has sparked political concerns about foreign ownership in Europe and the U.S. Aixtron has a significant presence in the US including a research and development center in Sunnyvale, CA, which is presumably why the US can rule on the matter. Chinese companies have announced or completed deals worth a record 11.3 billion euros in Germany alone this year, with targets including robot maker Kuka AG and a division of Osram Licht AG. German Economy Minister Sigmar Gabriel has called for more scrutiny of Chinese purchases and his ministry is still examining the Aixtron deal. https://www.bloomberg.com/

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