Factbox: Pending mergers and acquisitions involving U.S. firms that need Chinese approval

NEW YORK (Reuters) - U.S.

Reuters August 24, 2019 06:06:20 IST
Factbox: Pending mergers and acquisitions involving U.S. firms that need Chinese approval

Factbox Pending mergers and acquisitions involving US firms that need Chinese approval

NEW YORK (Reuters) - U.S. President Donald Trump said on Friday he has ordered American companies to exit China after Beijing unveiled retaliatory tariffs on $75 billion worth of U.S. goods, in a new twist in the bitter trade war between the world's two largest economies.

Trump gave no detail on how he might proceed with his order, as he cannot legally compel U.S. companies to abandon China immediately. He said he would be offering a response to Beijing's move later on Friday.

Below are mergers and acquisitions between U.S. and international companies that have been announced and are waiting for regulatory approval from China's State Administration for Market Regulation in order to close, because they have significant operations in China.

Nvidia/Mellanox - In March, U.S. chip supplier Nvidia Corp agreed to buy Israeli chip designer Mellanox Technologies Ltd for $6.8 billion, beating rival Intel Corp in a deal that would help the firm boost its data centre and artificial intelligence business.

Merck/Versum - In April, Merck KGaA won the backing of Versum's board for a sweetened $6.5 billion takeover proposal, overturning an agreed merger with rival Entegris as it bets on a recovery in electronic materials markets.

AbbVie/Allergan - Drugmaker AbbVie Inc said in June it would acquire Allergan Plc for about $63 billion, giving AbbVie control over the lucrative wrinkle treatment Botox and buying time to seek new growth before its blockbuster arthritis treatment Humira loses U.S. patent protection.

Infineon/Cypress - Germany's Infineon in June agreed to buy Silicon Valley-based Cypress Semiconductor for $10 billion, in an expensive move by Europe's largest chip-maker to expand further in next-generation automobiles and Internet technologies.

II-VI/Finisar - Laser and optical parts maker II-VI Inc said in November 2018 it would buy Apple Inc supplier Finisar Corp for about $3.2 billion to grab a bigger slice of 5G investments and sell more sensors for iPhones and driverless cars.

(Reporting by Greg Roumeliotis; Editing by Sonya Hepinstall)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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