After a series of Chinese acquisitions of US assets were torpedoed by the US government in 2017 over national security concerns, Washington cleared its first Beijing-backed takeover of an American company since Donald Trump became president a year ago.
Naura, a Chinese state-controlled semiconductor company, received US regulatory approval for the purchase of Akrion Systems, a Pennsylvania-based rival, in December, a law firm representing the buyer said on Wednesday.
The decision by the Committee on Foreign Investment in the US to approve the deal could weaken widespread fears among business leaders that the Trump administration is using the inter-agency vetting of deals that pose national security risks as a new tool against China and its growing appetite for American technology.