Fri, Dec. 9, 10:11 AM
- With takeover of Aixtron (NASDAQ:AIXG) in its present form by a Chinese investment fund officially off the table, CEO Martin Goetzeler views two possible routes of action.
- The first, continuing to invest in new equipment at high development and ramping expense and operation under optimism the markets for Aixtron's products recover. Secondly, "Aixtron could shrink, divest technologies and continue with a specialized offering."
- Regardless of what path the company pursues, international implications of M&A are in sharp focus with the U.S., China, and Germany each involved in just this case alone.
- Related (December 5): Aixtron purchase sans U.S. business observed
Fri, Dec. 9, 3:38 AM
- China's Ministry of Commerce criticized the United States today for thwarting a state investment fund's proposed buy of Germany's Aixtron (NASDAQ:AIXG), saying the U.S. "frequently interferes with normal business activity in the name of national security."
- But the chipmaker's CEO Martin Goetzeler put a more positive light on the failed takeover. "As unpleasant as the decision to block the transaction is... Our technology's high relevance has been confirmed."
Thu, Dec. 8, 7:48 AM
- China's Fujian Grand Chip Investment Fund drops its takeover bid for German chip equipment maker Aixtron (NASDAQ:AIXG), saying its offer had lapsed as it had failed to obtain U.S. regulatory approval for the deal.
- AIXG's technology is being used to upgrade both U.S. and foreign-owned Patriot missile defense systems, and the U.S. blocked the deal last Friday due to national security risks.
- AIXG -2.6% premarket.
Mon, Dec. 5, 10:58 AM| Mon, Dec. 5, 10:58 AM
- Previously (December 2-4): Obama set to block Aixtron sale / Aixtron deal formally blocked / Aixtron, Fujian explore what's left of deal
- Considering potential for a revising of terms, DZ Bank analyst Harald Schnitzer on the development notes: "Chinese investors might be willing to take over Aixtron without its U.S. business including U.S. patents and patent applications. That could be possible but we doubt that GCI would be prepared to pay 6 euros per Aixtron share in such a case."
- Amid the uncertainty, Aixtron's (NASDAQ:AIXG) trading higher by 3.3% on the day and overall lower by nearly 25% on the month.
Sun, Dec. 4, 4:25 AM
- German chip equipment maker Aixtron (NASDAQ:AIXG) will explore with its Chinese suitor what can be salvaged of the planned takeover after President Obama ruled the deal posed a national security risk.
- It added the presidential order was limited to Aixtron's U.S. business and did not per se prohibit the acquisition of Aixtron shares and ADRs of Fujian Grand Chip Investment Fund.
Fri, Dec. 2, 6:07 PM
- Earlier: Obama set to block Aixtron sale
- A rare move, signaling a sense of heightened scrutiny over M&A with globally interconnected security implications.
- While Aixtron (NASDAQ:AIXG) is based in Germany and its prospective buyers Chinese, the U.S. retained a say on the deal due to subsidiaries Aixtron operates in California and a count of 100 people it employs within the country.
Fri, Dec. 2, 3:54 AM
- President Obama is poised to block a Chinese company from buying Germany's Aixtron (NASDAQ:AIXG) because Northrop Grumman (NYSE:NOC), a major U.S. defense contractor, is among the chip equipment maker's customers.
- It would mark only the third time in more than a quarter century that the White House rejected an investment by an overseas buyer as a national security risk.
- Aixtron shares -6.5% in Frankfurt.
Mon, Nov. 21, 7:59 AM
- Aixtron (NASDAQ:AIXG) says it is sticking with its plan to be acquired by a Chinese consortium, despite objections raised by the Committee on Foreign Investment in the U.S., or CFIUS.
- Late Friday, AIXG says it was informed by CFIUS, about "unresolved U.S. national security concerns regarding the proposed transaction," an apparent reference to defense applications of the company's technology; CFIUS does not give reasons for its decisions.
- The decision will now be referred to Pres. Obama, who must block or allow the transaction within 15 days.
- Earlier this year, CFIUS also blocked the $3.3B sale of Philips' Lumileds lighting business to a consortium of Chinese investors.
Mon, Oct. 24, 7:58 AM
- The German government withdraws its approval for a Chinese takeover of chip equipment maker Aixtron (NASDAQ:AIXG), raising an unexpected hurdle for a €670M ($728M) deal on the home stretch.
- Germany's economics ministry says it is reopening its review of Grand Chip Investment’s takeover after clearing the €6/share deal just last month.
- The planned purchase of AIXG is part of a wave of Chinese acquisitions of German tech companies, and the holdup appears to signal a growing backlash against such activity within the Merkel government.
Mon, May 23, 12:36 PM
- A fund known as Grand Chip Investment is acquiring Aixtron (AIXG +13.1%) for €6.00/share ($6.72/share), or €670M ($750M) after factoring net cash. The price represents a 23% premium to Aixtron's Friday close, and a 48% premium to where shares traded before Bloomberg first reported of Aixtron's sale efforts on March 31.
- The all-cash offer requires the support of shareholders owning 60% of Aixtron's shares. Though up strongly today, Aixtron still trades 8% below its buyout price, perhaps due to concerns about regulatory scrutiny.
- Aixtron popped on Friday after Bloomberg reported a €5.50/share could be close. Rival Veeco (VECO +1.6%) is up 7% over the last two trading days.
Fri, May 20, 2:09 PM
- Sources tell Bloomberg a P-E investor group backed by Hong Kong investment firm Buttonwood Finance is in talks to buy Aixtron (AIXG +9.4%), and that the parties "aim to reach an agreement in the coming weeks."
- One source says a deal could be valued at €5.50/share ($6.16/share). That would represent a 23% premium to Aixtron's Thursday close. Bloomberg cautions no final decision has been made.
- Earlier: Aixtron reportedly in sale talks with Chinese suitors
Fri, May 20, 12:38 PM
- Bloomberg reports Aixtron (AIXG +9.6%) is talking with Chinese firms about a potential sale. The report follows one on March 31 stating the German LED/chip equipment maker is holding informal sale talks and working with JPMorgan to explore options.
- Aixtron is posting big gains, but it's worth noting shares were already doing very well before Bloomberg's latest report. A broader rally in chip equipment stocks that has followed Applied Materials' strong earnings/guidance appears to be helping out.
- U.S.-based rival Veeco (VECO +3.2%) is also outperforming on a day the Nasdaq is up 1.4%. Bloomberg's March report stated Aixtron had spoken with both Veeco and Chinese firms. Both companies have been hit hard by weak LED equipment demand caused by industry oversupply.
Dec. 15, 2011, 11:47 AM
Lam Research's (LRCX -3.7%) proposed acquisition (I, II) of Novellus (NVLS +21.1%) is giving a lift to several of the companies' peers, as investors hope the merger of the third and fourth largest U.S. chip equipment makers will spur further consolidation in the downtrodden industry. UTEK +5.8%. CYMI +4.1%. NANO +3.7%. KLIC +4.6%. ASMI +3.3%. AIXG +3.5%. MKSI +3.2%.| Dec. 15, 2011, 11:47 AM
Aug. 23, 2011, 5:33 PMGerman chip equipment maker Aixtron (AIXG) rose 10% today on analyst speculation the company could be a buyout target due to the recent decline in its shares. One analyst suggests Applied Materials (AMAT) is a potential buyer, while another thinks the Chinese government could make a bid. | Aug. 23, 2011, 5:33 PM