The failed Lumileds deal highlights the growing hurdles Chinese tech firms face in overseas acquisitions under tightening US policy
“Accordingly, on April 17, 2026, the parties submitted a letter to CFIUS withdrawing the filing and voluntarily abandoned the transaction,” the statement said.
Under the share purchase agreement, regulatory clearance from all relevant domestic and overseas authorities was a closing condition. With CFIUS effectively derailing the deal, that condition could no longer be met, according to the firm.
“The company will continue to pursue its internationalisation strategy with resolve, and will press ahead in strengthening its competitiveness in the mid-to-high-end LED sector and in global markets,” Sanan said. The collapsed deal would not materially affect its finances or day-to-day operations, the firm added.
Source: News - South China Morning Post
