Germany says Aixtron case 'closed' after Chinese bid blocked

Markets Associated Press

The German government says it has stopped the vetting process for a Chinese firm's purchase of chipmaker Aixtron SE after the U.S. government nixed the takeover.

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President Barack Obama last week ordered Fujian Grand Chip to drop its attempt to acquire Aixtron's California subsidiary, over national security concerns.

The Chinese firm announced it was abandoning the 670 million euro ($721 million) takeover Thursday.

A spokesman for Germany's Economy Ministry, Andreas Audretsch, told reporters in Berlin on Friday that "the case is closed."

Audretsch said the German government is committed to protecting jobs, but added that "I wouldn't want to see this linked with any speculation about what might happen to Aixtron."