Cypress Semiconductor (CY), Infineon Merger Gains CFIUS Clearance

Cypress Semiconductor Corp. (NASDAQ: CY) announced that Cypress has been informed today by the Committee on Foreign Investment in the United States (CFIUS) that CFIUS has completed its review of Cypress’s previously announced merger transaction with Infineon Technologies AG and determined that there are no unresolved national security concerns with respect to the proposed merger. The merger remains subject to receipt of regulatory approval from China's State Administration for Market Regulation and other customary closing conditions under the merger agreement.

Shares of Cypress plunged last week on concerns the U.S. would block the merger.

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