Navigation
Suscribe
Menu Search Facebook Twitter
Search Close
Menu ALL SECTIONS
  • Capital Coahuila
  • Capital Hidalgo
  • Capital Jalisco
  • Capital Morelos
  • Capital Oaxaca
  • Capital Puebla
  • Capital Quintana Roo
  • Capital Querétaro
  • Capital Veracruz
  • Capital México
  • Capital Michoacán
  • Capital Mujer
  • Reporte Índigo
  • Estadio Deportes
  • The News
  • Efekto
  • Diario DF
  • Capital Edo. de Méx.
  • Green TV
  • Revista Cambio
Radio Capital
Pirata FM
Capital Máxima
Capital FM
Digital
Prensa
Radio
TV
X
Newsletter
Facebook Twitter
X Welcome! Subscribe to our newsletter and receive news, data, statistical and exclusive promotions for subscribers
Business

Federal Panel Opposes Tech Company Sale to Chinese Investors 

The transaction could threaten national security, lawmakers have said

Former U.S. Secretary of State John Kerry speaks with Chinese President Xi Jinping to discuss the conclusion of the 5th Annual U.S.-China People-to-People Exchange and Sixth Strategic and Economic Dialogue between the two nations, July 10, 2014, photo: Wikimedia
3 months ago

PORTLAND – A federal panel is recommending that President Donald Trump reject or suspend the pending $1.3 billion sale of Portland, Oregon’s largest tech company to a Chinese-backed investment firm.

The Committee on Foreign Investment in the United States ruled against the deal Friday, The Oregonian/OregonLive reported. The deal has been under scrutiny since it became clear that the newly-formed private equity firm, Canyon Bridge Capital Partners, that Lattice Semiconductor announced it would sell to in November is funded by the Chinese government. The transaction could threaten national security, lawmakers have said.

Lattice manufactures a relatively low-tech class of programmable computer chips that can be adapted for a variety of uses. It had 1,000 employees worldwide at the end of the last year, but that number dwindled after Lattice sold a division in India and a round of layoffs.


Lattice Semiconductors hopes the federal panel will change its recommendation or the president will take a different course.

“Lattice and Canyon Bridge plan to continue to engage in further discussions with CFIUS and the President to explore measures that may resolve any outstanding national security concerns and that could allow the parties to proceed with the transaction,” Lattice wrote in a securities filing Friday.

Former presidents have followed four similar recommendations the federal panel has made since 1990. Trump has 15 days from the panel’s ruling to decide whether he will follow the recommendation.

“We believe President Trump will recognize the benefits this investment will provide — to keep and grow jobs in the U.S., as well as expand Lattice’s product portfolio,” Canyon Bridge wrote in a separate statement.

Comments Whatsapp Twitter Facebook Share
More From The News
Science

Rare skeleton shown of human ancestor, 3 ...

4 days ago
Latest News

Bannon savages GOP leaders in fight for ...

5 days ago
Latest News

IOC: Russians can compete at Olympics, b ...

5 days ago
Latest News

California communities under siege from ...

5 days ago
Most Popular

Mexico's Industries seek U.S. Partner Co ...

By Rosalba Amezcua
Business

Concamin Demands Industry Exemption from ...

By Rosalba Amezcua
Business

German Toolmakers Open up Shop in San Mi ...

By Ricardo Castillo
Business

Canadian Investments in Mexico Increase

By The News
Business

Telcel Presents Claro Sports App

By The News
Business