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Upcoming/New CFIUS Filing: Infineon Technologies and Cypress Semiconductor

Status:  Upcoming/New Filing

Acquirer:  Infineon Technologies AG (Germany)

Acquired:  Cypress Semiconductor Corporation (US)

Value:  US$10 billion

Industry:   Semiconductors


On June 3, 2019, Cypress Semiconductor Corporation, a US semiconductor design and manufacturing company, Infineon Technologies AG, a semiconductor manufacturer based in Germany, and IFX Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of Infineon Technologies, entered into a merger agreement pursuant to which IFX Merger Sub will merge with and into Cypress Technologies, with Cypress Technologies surviving as a wholly owned subsidiary of Infineon Technologies.  (See Cypress Semiconductor Corporation Form 8-K, June 3, 2019, SEC Filing.)  Cypress and Infineon have agreed that certain regulatory approvals will be required for the deal, including from “the Committee on Foreign Investment in the United States (“CFIUS”) pursuant to Section 721 of the Defense Production Act of 1950.”  (Id.; see Agreement and Plan of Merger, Sec. 7.1(d), Cypress Semiconductor Corporation Form 8-K, Ex-2.1, June 3, 2019.)

© Copyright 2021 Squire Patton Boggs (US) LLPNational Law Review, Volume IX, Number 155
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