GVH withdraws approval for Infineon acquisition of Cree power and RF business

Pharma

Hungaryʼs Competition Office (GVH) yesterday said it withdrew its clearance for the acquisition of the power and radio frequency business of U.S.-based Cree by German chipmaker Infineon Technologies, Hungarian news agency MTI reported.

GVH withdrew its approval after the U.S. Federal Trade Commission informed it that Infineon may have provided incomplete and misleading information on the size of the markets affected by the merger.

GVH fined Infineon almost HUF 76 million for the shortfall.

In February, Cree said it had terminated the planned sale of its Wolfspeed power and radio frequency division to Infineon because of the concerns of the Committee on Foreign Investment in the United States (CFIUS).

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