Caixin
May 16, 2018 05:53 PM
BUSINESS & TECH

China Approves U.S. Chip Merger, Following Talk of Political Delays

U.S. chipmaker Microchip Technology Inc. has announced that China has approved its takeover of rival Microsemi. Photo: VCG
U.S. chipmaker Microchip Technology Inc. has announced that China has approved its takeover of rival Microsemi. Photo: VCG

Chipmaker Microchip Technology Inc. said China’s antitrust regulator has approved its purchase of Microsemi Corp., indicating Beijing had resumed reviewing merger deals involving U.S. firms after a brief halt due to strained trade relations with Washington.

Microchip first announced its plan to acquire Microsemi in March, in a deal that valued its U.S. peer at $8.3 billion. But speculation over the deal’s fate began to swirl early this month when the company still hadn’t received clearance from China’s anti-monopoly regulator, as foreign media cited unnamed sources saying such reviews had been halted due to bilateral trade tensions.

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