US gov't blocks China's largest LED chipmaker's $239 million bid to acquire Dutch lighting firm Lumileds — US blocks acquisition attempt of European firm

A worker produces chips for mobile phones, cars, LED lighting at a workshop in Huai 'an city.

Sanan Optoelectronics, China's largest LED chipmaker, has abandoned its $239 million bid to acquire Dutch lighting firm Lumileds after the Committee on Foreign Investment in the United States (CFIUS) ruled the deal posed "irresolvable U.S. national security risks," the South China Morning Post reported. This marks the second time in 10 years that CFIUS has torpedoed a Chinese attempt to buy Lumileds, and it comes amid a deepening governance crisis at Sanan itself.

Go deeper with TH Premium: Chipmaking

(Image credit: tsmc)

• A deeper look at the chipmaking supply chain
• TSMC's $165 billion U.S. investments examined
• China reportedly reverse-engineers EUV tool
• China bets on DUV, as EUV blockade reshapes chipmaking