Shareholders approved the sale of the Chinese Imagination
The shareholders of the company Imagination Technologies today approved its sale to a Chinese investment Fund Canyon Bridge. Recall that the acquisition will cost $ 730 million.
Interestingly, just yesterday the founder of Canyon Bridge Benjamin Chu (Benjamin Chow) was charged with insider trading.
However, by words a press-the Secretary of the Fund, the transaction with Imagination it does not threaten. In addition, Chu rejects the allegations and intends to defend itself in court.
That Canyon Bridge buys Imagination Technologies announced in late September — a week after the Fund failed to make any other purchase. Deal with Lattice Semiconductor was blocked by the President of the United States «for reasons of national security.»