CFIUS concludes review of planned acquisition of Cypress and clears transaction / closing remains subject to approval from Chinese authorities
On 9 March 2020, the Committee on Foreign Investment in the United States (“CFIUS”) concluded its review under Section 721 of the Defense Production Act of 1950, of the planned acquisition of Cypress Semiconductor Corporation as announced by Infineon Technologies AG on 3 June 2019. CFIUS cleared the transaction.
The closing of the Merger remains subject to approval from China’s State Administration for Market Regulation (SAMR) and other customary closing conditions under the merger agreement.
