The tightening of the pace of mergers and acquisitions of Chinese overseas merger review nanzu

Xinhua news agency, Nanchang in February 23, Chinese acquisition of PHILPS in the United States and the United States government is chip company rejected in less than a month, the central enterprises Huarun Group subsidiary acquired Fairchild Semiconductor Corporation also fear that cannot be rejected by the United States to review. The industry believes that, although the United States continues to tighten the acquisition of high-tech enterprises and key technology review, but the globalization of the industrial division of labor, the trend of international mergers and acquisitions is blocked.

In January 22nd, PHILPS announced that the United States cannot solve the Committee on foreign investment "national security concerns", to stop by China venture company leading Jinsha River venture capital investment fund "GO Scale Capital" to sell its Lumileds (chip and company) 80.1% of the shares". In March last year, PHILPS and GO Scale Capital has reached an agreement on mergers and acquisitions.

LumiLEDs has the world's leading technology in the field of LED chip and automotive lighting, and has a huge patent. The acquisition of Lumileds's investment fund also includes China Investment Corp, AVIC trust Limited by Share Ltd, the new fund management Co., Ltd. and Nanchang Industrial Holdings Group Co., ltd..

We take the company's LED Nanchang crystal optoelectronic industry as a platform to undertake, if the successful acquisition of Lumileds, will greatly enhance the domestic LED industry technology and manufacturing capabilities, reshaping the global LED industry pattern. Jinsha River venture co-founder and managing director, said wu.

Reporters learned that the Nanchang University after nineteen years of research made blue silicon substrate LED technology successfully mastered LED chip technology with independent intellectual property rights, breaking the monopoly of Japan, the formation of the global LED technology three full situation. In 2012, the successful implementation of high power electronic Co. Ltd Lan Guanggui substrate LED technology industry can form on silicon substrate LED technology Nanchang crystal, marking the Chinese occupied technology and industrialization two heights in the field of LED.

Relying on this independent intellectual property rights of LED technology, Jiangxi plans to build a national LED Optics Valley. Acquisition of Lumileds will help Optics Valley achieve leapfrog development. Xiao Yuwen, vice mayor of Nanchang, said,

Wu said that the two sides in the past year, actively cooperate with the U.S. Foreign Investment Committee of the review, because the irresistible factors did not pass the review, I feel very sorry. "

The United States government rejected the acquisition is less than a month, February 17th, because the U.S. government worried about passing the examination, the Fairchild Semiconductor Company rejected the Huarun group Huarun Microelectronics Co. Ltd. and Cci Capital Ltd core CRE tender offer.

Reporter survey found that from the early years to bid for 3COM last year, Thunis's proposed acquisition of magnesium was rejected, Chinese technology companies in overseas acquisitions by the United States administrative power to obstruct It is often seen.

Analysis of the industry, the United States government to prevent China investors buying Lumileds, and the Fairchild Semiconductor Company was forced to reject Huarun acquisition projects for China to suppress the development of the semiconductor industry, American Technology Corp technology advantage considerations.

"The United States is tightening its grip on any potential to improve China's sophisticated technology or military power. Chinese Academy of Social Sciences Institute of the United States researcher Fan Ji said that in recent years this situation has become increasingly evident.

But Wu said that the trend of international industrial division of labor can not be blocked, the road of overseas mergers and acquisitions must firmly go. The strength of the Chinese market and solid technical research and development base, if the strength of foreign brands and high quality, will promote domestic industrial upgrading, promote supply side reform.

Overseas merger is China industry leapfrog development. However, the U.S. government will block the high frequency of events. The industry believes that overseas mergers and acquisitions is like a game, to reduce the impact of the U.S. government to force from three aspects.

The failure of the acquisition, the most important revelation is that we must first independent innovation, international cooperation. Xiao Yuwen said that the Chinese industry is from the people I have to have a strong, strong and I am good at the new stage, but the key is to have me. "When we can do without me, nature is not afraid of no international cooperation. "

The United States is a strong competitor HUAWEI CISCO, so it is difficult for HUAWEI to enter the U.S. market, but HUAWEI's European market has developed rapidly. Fan Ji suggested that China's entry into the U.S. market does have multiple obstacles, you can increase cooperation with the old industrial powers of europe.

Wu said that despite the failure of the transaction, but they won the respect of PHILPS. China's LED industry in the future and PHILPS and other international companies will have greater cooperation possible.

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