The Treasury Department said Friday that POTUS blocked a bid by the Chinese investment firm Fujian Grand Chip Investment Fund (FGC) to acquire the U.S. affiliate of the German company Aixtron, which makes semiconductor equipment. The administration blocked the deal to protect U.S. national security interests, the Treasury Department said.
The Obama administration may have feared that China would use the acquisition to gain access to the secrets of producing a material called gallium nitride used in military equipment, a Reuters report said. President Obama used an executive order to block the deal. MS