China's leading LED chipmaker abandoned a $239 million offer to purchase Dutch company Lumileds after facing opposition from US authorities. This marks another setback for Chinese tech investment plans overseas.

China’s leading LED chipmaker and its Malaysian partner have abandoned their US$239 million cash offer to purchase Dutch technology company Lumileds Holding after opposition from US authorities, marking the latest setback for Chinese tech investment overseas following the high-profile Nexperia saga. Sanan Optoelectronics, listed in Shanghai, said in a disclosure announcement on Friday that despite multiple rounds of discussions, the Committee on Foreign Investment in the United States (CFIUS)...