Aixtron Says Germany Reopens Review of Takeover by Grand ChipBy
The ministry has withdrawn a so-called clearance certificate issued on Sept. 8 for Fujian Grand Chip Investment Fund LP, an indirect shareholder of Grand Chip, Aixtron said Monday in a statement. Aixtron didn’t specify a reason for the decision.
Grand Chip agreed in May to buy Aixtron in a deal valued at 670 million euros ($728 million). The bid may have helped the company access the Chinese market and and develop its product portfolio, after losing its largest customer last year.
Grand Chip had promised to support Aixtron’s strategy going forward and keep its headquarters location and chief executive officer in place.