The takeover of Lattice Semiconductor by Canyon Bridge Capital Partners has been abandoned following an order from the President of the United States. The Committee on Foreign Investment in the United States (CFIUS) referred the transaction to the President for a decision, after it was unable to agree conditions for the takeover. The President decided to block the deal on the recommendation of CFIUS.
Canyon Bridge is backed by the Chinese government, something CFIUS found could threaten US security. Lattice products are used by the US government, and the sale could lead to a loss of intellectual property or issues in the semiconductor supply chain.
Lattice and its partner had appealed directly to the President to oppose the recommendation of CFIUS and support the companies' proposal for concessions. Lattice said the deal was in the best interests of its stakeholders, but it will continue now as a standalone company.
