Chinese-led Chipmaker Abandons Dutch Acquisition Under U.S. Pressure

A Chinese LED chipmaker and its Malaysian partner have abandoned a $239 million bid to acquire Dutch firm Lumileds after opposition from U.S. regulators, the South China Morning Post reported.

Sanan Optoelectronics' withdrawal highlights ongoing tensions over technology transfers between the U.S. and China. (Photo: Sanan Optoelectronics)

Sanan Optoelectronics said the Committee on Foreign Investment in the United States (CFIUS) determined the deal posed unresolved national security risks.

The withdrawal highlights ongoing tensions over technology transfers between the U.S. and China, particularly in strategic sectors such as semiconductors and rare earth materials.