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