People familiar with the matter revealed that Chinese regulators have recently slowed down the speed of approval of the mergers and acquisitions plan for many American companies in order to counterattack Washington's export restrictions on the Chinese technology industry.
According to the Wall Street Journal on Tuesday (April 4), people familiar with the matter reported that the affected mergers and acquisitions planned in the US chip company Intel Corp.100 million) acquisition of Israeli Tower Semiconductor LTD., and another American chip merchant Maxlinear Inc., acquired Taiwan's Silicon Motion Technology Simo for $ 3.8 billion.
People familiar with the matter said that as a prerequisite for approval of the mergers and acquisition cases, officials of the State Administration of Market Supervision of China Anti -Monopoly Supervisory Institution have requested that these companies will be sold in China to other countries to sell them to China, thereby fighting against the United States against China against China.Export control.
However, the United States has legislative restricting US companies to export advanced technology to China and its capabilities to expand production in China.Therefore, the above requirements will cause foreign companies to fall into a dilemma.
The executives and industry associations of multinational companies said that in recent years, the Chinese government has begun to use its merger review procedures and antitrust rules more frequently to promote its political and economic goals.Although Chinese regulatory agencies rarely refuse to deal directly, they have adopted the practice of delay and suspension of approval until their requests are met, and these practices usually benefit Chinese companies by sacrificing foreign competitors.
People familiar with the matter said that Chinese officials believe that M & A review is a low -cost method that can pressure foreign companies and pressure on their government.
According to China, if the company involved in the acquisition plan is more than $ 117 million in China, the transaction must be approved by Beijing.
