U.S. President Donald Trump blocked a Chinese-backed private equity firm from buying a U.S. chipmaker on Wednesday, sending a clear signal to Beijing that Washington will oppose deals that involve technologies with potential military applications.
Canyon Bridge Capital Partners’ planned $1.3-billion acquisition of Lattice Semiconductor Corp was one of the largest attempted by a Chinese-backed firm in the U.S. chip sector and was the first announced deal for the Palo Alto-based firm, which launched last year with a focus on technology investments.
