Dallas, Texas 07/16/2015 (Financialstrend) – The recent news bytes of Micron Technology, Inc. (NASDAQ:MU) receiving a purported takeover bid by Chinese company Tsinghua Unigroup Ltd has led to political digressions. Senator John McCain, (Republican) voiced concerns that the bid offer by the Chinese company could be potentially prone to national security risks, calling for a comprehensive review. The Senator shared that the likely risks of a Chinese government owned enterprise such as Micron Technology could be threatening, and pose security risks for the country. He called for ‘thorough review,’ recommending that the Department of Defense, the Congress as well as other federal agencies review the matter thoroughly.
The purported bid for Micron Technology, Inc. (NASDAQ:MU) by the Chinese company has been the highlight of the previous week. At first thought the takeover bid was considered low by several industry experts. Secondly, began the pressure of alleged potential political risks by the US Government. Thirdly, the deal was under pressure given the aggressive stance taken by the regulatory division.
The concerns voiced by political leaders of a likely sale of Micron Technology, Inc. (NASDAQ:MU) stems from the dependence of modern defense systems on electronic chips. The recent hacking issues that the country had witnessed and the involvement of Chinese people in such issues are the cause for political alarm claim experts from the cyber security industry.
At the National Aeronautic Association, the Secretary of Air Force, Deborah James committed that any deal which
Micron Technology, Inc. (NASDAQ:MU) forges with a foreign agency will be ‘very, very thoroughly reviewed.’ Other security industry experts such as law firm, Stroock & Stroock & Laven, from New York, claimed that Committee on Foreign Investment in the US too would conduct a review. The legal firm claims that the review would be inter-agency and would not compromise National Security issues, it claimed.
