Chinese LED chipmaker Sanan Optoelectronics’ bid to buy Dutch firm Lumileds has collapsed due to opposition from the US Committee on Foreign Investment in the United States (CFIUS). On April 17, 2026, the parties submitted a letter withdrawing the filing and voluntarily abandoned the transaction. Sanan said the failed deal will not materially affect its finances or day-to-day operations.
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.
“Accordingly, on April 17, 2026, the parties submitted a letter to CFIUS withdrawing the filing and voluntarily abandoned the transaction,” the statement said.
“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.
The failed Lumileds deal highlights the growing hurdles Chinese tech firms face in overseas acquisitions under tightening US policy, as reported by the South China Morning Post.