Grand Chip weighs options on revoked Aixtron approval

Fujian Grand Chip Investment Fund LP said on Tuesday that the German government's move to withdraw approval of its takeover of German chip equipment maker Aixtron SE did not necessarily mean it would scrap its bid.

"The bidder is currently examining the legal implications of the letter in which the Economy Ministry withdrew the clearance certificate," said Grand Chip Investment GmbH, the takeover vehicle of the Chinese investment fund controlled by businessman Liu Zhendong.

Aixtron said on Monday that Berlin had withdrawn its approval and would review the deal, throwing up an unexpected hurdle for the 670-million-euro ($728 million) deal on the home stretch.