Infineon, Cree: Wolfspeed Transaction Not Likely To Get Regulatory Approval

(RTTNews) - Infineon Technologies AG (IFNNY) announced that the Committee on Foreign Investment in the United States (CFIUS) informed proposed acquisition of Wolfspeed Power & RF and the related substrate business from Cree Inc. (CREE) poses a risk to the national security of the United States.

Infineon noted that CFIUS had not identified any mitigation measures that it believed would adequately mitigate the particular national security risks posed by the transaction.

Therefore, Infineon said it is of the opinion, that there is a considerable risk that the transaction, is not going to close.

Cree also issued a statement that the transaction in its current form is not likely to be approved by CFIUS and that the likelihood or timing of closing the transaction is uncertain.