I missed this news at the time. Global Trade and Sanctions Law site reports:
"The Committee on Foreign Investment in the U.S. (CFIUS) has cleared the acquisition of Beijing OmniVision Technologies Co., Ltd. by Shanghai Will Semiconductor Co., a PRC-listed company, according to an April 16, 2019, filing with the securities regulators in China.
It is possible this transaction was the second step of an original plan to list the assets of OmniVision in China, and CFIUS was told in 2015 about the plan. It is therefore possible there is less here than meets the eye."
As Will Semiconductor document states, CIFIUS has declined the approval several times since 2015 before finally allowing it this year.
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