Possible Acquisition Bid for U.S Chipmaker Micron Tech by China’s Tsinghua Unigroup Ltd. Worries McCain
Since, the news of a likely bid for Micron Technology Inc., the US chipmaker by Tsinghua Unigroup Ltd. of China has surfaced; many concerns have been raised by people concerned about security issues.
John McCain, the Republican US Senator raised concerns regarding the issue and said that a thorough US review is required before any decision could be taken regarding the deal. The head of the Senate Armed Services Committee said, "I am concerned by the potential national security implications of a planned bid by a Chinese state-owned enterprise for Micron Technology, the last major American manufacturer of memory chips."
He said that it is of considerable importance to give the proposed takeover a thorough and careful review by the Congress, Department of Defense along with other concerned government agencies in the US.
The proposed deal, which has not yet been submitted officially, was reported earlier in the week. Before it can proceed any further, it has to face a string of barriers which will include scrutiny by regulators, the Congress and also questions regarding the price.
Owing to the high dependence of modern weapons on computer chips and concerns regarding Chinese hackers posing a threat to cyberattacks in the US, the deal is all the more likely to go through extreme scrutiny.
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