Trump halts HieFo Corp's $3M acquisition of Emcore, citing national security risks linked to Chinese control, as reported by Reuters.
US President Donald Trump has blocked HieFo Corp's $3 million acquisition of assets from New Jersey aerospace and defense firm Emcore, citing national security concerns related to China.
In a White House order, Trump stated that HieFo is controlled by a Chinese citizen and that its planned acquisition of Emcore's businesses in 2024 could pose a threat to US national security.
The Committee on Foreign Investment in the United States identified a security risk during its review, according to the Treasury Department, although it did not specify the nature of the threat.
Emcore, which was publicly traded at the time and has since been taken private, reported that HieFo acquired its chips unit and indium-phosphide wafer fabrication operations for $2.92 million.
