Grand Chip Investment GmbH entered into an agreement to acquire Aixtron SE (DB:AIXA) for approximately €670 million in cash on May 23, 2016. Under the terms of the agreement, AIXTRON shareholders will be offered €6 in cash per each ordinary share. Martin Goetzeler is to remain Chief Executive Officer of AIXTRON and Bernd Schulte is to remain in his function as Chief Operating Officer. AIXTRON's Supervisory Board shall continue to consist of six members. Fujian Grand Chip Investment will provide €231 million of equity financing for the transaction. The remainder of the transaction is to be financed by debt facilities. The takeover offer is expected to commence in the beginning of July 2016 after approval of the offer document by the German Federal Financial Supervisory Authority. The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, "BaFin") approved the publication of the Offer Document on July 29, 2016. The offer shall be subject to certain closing conditions, including regulatory approvals and a minimum acceptance threshold of 60% of all of AIXTRON’s outstanding shares. Executive and Supervisory Board support the transaction. The deal is expected to close in second half of 2016. As of July 1, 2016, Bafin granted the company Grand Chip an extension of four weeks up to July 18, 2016. After approval of the Bafin, the offer is to be submitted to the investors at the latest at the beginning of August 2016. As of July 18, 2016, the offer document was filed with Bafin. The acceptance period for the offer expires on October 7, 2016 and as of August 5, 2016, the takeover offer has been accepted for a 0.19% stake in AIXTRON. As of August 26, 2016, takeover offer has been accepted for a total of 4.6 million shares of Aixtron. As of September 2, 2016, takeover offer has been accepted for a total of 6.14 million shares of Aixtron. As of September 13, 2016, Zhendong Liu, indirect shareholder of the Bidder, has clarified that he has not made any decisions with respect to whether he, the Bidder or any his other affiliates will purchase additional AIXTRON Shares after the Takeover Offer is completed. As of September 23, 2016, takeover offer has been accepted for a total of 8.6 million shares of Aixtron. As of September 30, 2016, offer has been accepted for 12.7 million shares corresponding to 11.3% of AIXTRON share capital. As of October 5, 2016, approximately 24.6% of the shares were tendered, in comparison to October 4, 2016, when Aixtron shareholders had offered only 16.6% shares. As reported on October 6, 2016, the minimum acceptance threshold for the takeover offer by Grand Chip Investment GmbH to the shareholders of Aixtron was reduced from 60% to 50.1%. As of October 7, 2016, the acceptance period has been extended by law by two weeks. Accordingly, the Takeover Offer may be accepted until October 21, 2016. Under the German Securities Acquisition and Takeover Act, the takeover offer may not be extended further due to an amendment of the takeover offer. As of the reference date, the takeover offer has been accepted for a total of 67.7 million AIXTRON shares. As of October 25, 2016, the Germany Economy Ministry has reopened a review of the takeover offer. The offer period has been extended until November 10, 2016. US President Barack Obama stopped Fujian Grand Chip Investment Fund (FGC) from buying Aixtron US and did not prohibit the acquisition of Aixtron shares. As of December 2, 2016, the US president issued an order and prohibited the the proposed acquisition of Aixtron by GCI and also reserved his authority to issue further orders with respecto GCI and Aixtron. Hence, the President of the United States did not announce a decision not to take any action to suspend or prohibit the transaction. As a result the Offer Condition could no longer be fulfilled and therefore the Offer lapsed Buttonwood Finance Ltd. acted as investment advisor and Deutsche Bank AG acted as the financial advisor and Regina Engelstädter, Karl Balz, Edouard Lange, Uwe Halbig, Johannes Ruppel, Maximilian Kuhn, Scott Saks, Keith Pisani, Vivian Lam and Karen Wong of Paul Hastings (Europe) LLP and Achim Glade, Marco Sustmann, Martin Rücker, Christof Wagner, Alexander Retsch, Markus Wirtz, Eugen Wingerter of Glade Michel Wirtz acted as the legal advisor for Grand Chip Investment GmbH. Markus Hauptmann, Tobias Heinrich, Carola Glasauer, Matthias Kiesewetter, Robert Weber, Vanessa Seibel, Börries Ahrens, Frank-Karl Heuchemer, Alex Zhang, Chang-Do Gong and a Jalinous Farhad of White & Case LLP acted as the legal advisor and Cravath, Swaine & Moore LLP represents JPMorgan Chase & Co. acted as the financial advisor Aixtron SE. Simeon Held and Malte Jaguttis of Held Jaguttis acted as legal advisor for Grand Chip Investment GmbH. DF King (Europe) Ltd. and D.F. King & Co., Inc. acted as the information agent for Grand Chip Investment GmbH. Grand Chip Investment GmbH cancelled the acquisition of 78.5% stake in Aixtron SE (DB:AIXA) on December 8, 2016. In November, CFIUS recommended that Aixtron's sale to Grand Chip Investment be stopped due to security concerns. The offer has lapsed due to the non-fulfillment of an offer condition. The offer condition of the clearance of the transaction by the Committee on Foreign Investment in the United States (CFIUS) or the U.S. President laid out in Section 4.2.2 (ii) of the offer document has not been fulfilled as a consequence of the order of the President of the United States dated December 2, 2016 prohibiting the acquisition of the U.S. business of AIXTRON by the bidder.