President Trump has killed the proposed takeover of Portland, OR-based Lattice Semiconductor by Canyon Bridge Capital Partners, which is backed by the government of China, ruling that the $1.3B takeover posed a threat to national security.
Lattice, which used Brunswick Group in the transaction, defended the deal as "in the best interests of our shareholders, our customers, our employees and the US."
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CEO Darin Billerbeck argued that the mitigation proposal presented to the Committee on Foreign Investment in the US to facilitate the takeover by Capital Bridge was the most comprehensive "proposal ever proposed for a foreign transaction in the semiconductor industry and would have maximized US national security protection while still enabling Lattice to accept Canyon Bridge’s investment and double American jobs."
He assured investors that Lattice's future remains bright despite the collapsed deal.
In its statement, CFIUS noted that it and the President decided the transaction poses a risk to the national security of the US that cannot be resolved through mitigation.
They expressed concern with the "potential transfer of intellectual property to the foreign acquirer, Chinese government's role in supporting the transaction, the importance of semiconductor supply chain in the US and the use of Lattice products by the US government."
Brunswick's Alex Finnegan and Jennifer Sukawaty represent Lattice.
Erik Hotmire has rejoined the Securities and Exchange Commission as chief external affairs officer and director of the Office of Public Affairs.
California seeks a firm to handle a $3.5M marketing/ad program to promote awareness of, and increase sign-ups in, its job corps program. 
The National Highway Safety Administration has awarded its public education to Stratacomm following a competitive re-compete process.
Congress wants the FTC to probe whether TikTok violated child privacy laws when it launched a last-ditch lobbying blitz to defeat the bill requiring its owner, ByteDance, to divest it.
Jeffrey Nesbit, who served as communications director for former vice president Dan Quayle, is named assistant secretary for public affairs at the Department of Health and Human Services.
