Investment control: GlobalWafers/Siltronic fails due to length of proceedings

The planned takeover of Siltronic by GlobalWafers failed due to the lack of a clearance certificate under foreign trade law. The case has special features that M&A practitioners should be prepared for in the highly politicized environment. One is the de facto prohibition due to the length of the proceedings. The other is that the acquirer here comes from Taiwan, which is unsuspicious in terms of security policy.