Xcerra agreed in April to accept a $ 580 million takeover offer from Unic Capital Management, a China-backed official investment management firm, that is subject to CFIUS approval, although the latter did not approve the Xcerra deal within the given 75 days Reapplying to CFIUS will give Xcerra another 75 days to await approval.
Dave Tacelli, chief executive of Xcerra, said that constructive communication with CFIUS has been made to ensure that the committee understands the nature of the industry in order to approve the transaction.
On August 17, it was reported that the Chinese acquisition of Xcerra, a semiconductor test plant in the United States, may have changed halfway because of concerns about national security. According to the Wall Street Journal, another U.S. rival, Cohu, tried to stymie to stop Xcerra from crossing the door.
According to the report, Cohu made a small report directly to the U.S. Foreign Investment Commission (CFIUS), pointing to the national security concerns China made when it acquired Xcerra.
In response to the allegations, Xcerra said in response to a query from Reuters that Cohu's affair is nonexistent as Xcerra does not own any of its customers' key IPs and that the semiconductor company does not share important information with test plants or agencies.