![A Chinese takeover may be in the making for Micron [Getty Images]](https://images.dailycaller.com/image/width=960,height=411,fit=cover,f=auto/https://cdn01.dailycaller.com/wp-content/uploads/2015/07/103353904-e1436883334305.jpg "A Chinese takeover may be in the making for Micron [Getty Images]")
Tsinghua Unigroup, a Chinese state-owned firm, is attempting China’s largest takeover of a U.S. firm to date, preparing for a $23 billion bid targeting the American chipmaker company, Micron.
A merger that involves Micron faces close scrutiny from federal regulatory bodies such as the Committee on Foreign Investment in the U.S. (CFIUS), according to CNN. CFIUS examines possible national security threats, especially when a foreign company looks to takeover a U.S. firm.
The Wall Street Journal reports that Tsinghua Unigroup already has several partnerships with some U.S. companies such as Intel and HP. Although Micron has not yet received a formal offer from Tsinghua Unigroup, the company is prepared to pay $21 per share or 20% of their current price.
With this deal coming close to $23 billion, the possible takeover towers over past Chinese firm purchases.
The closest Chinese purchase dates back to 2013 when Shanghai bought Smithfield Foods for $7.1 billion. Before that, China Investment Corp. bought a 10% stake in Morgan Stanley for close to $5 billion.
Companies that are involved in CFIUS deals can submit to voluntary reviews. However, if there is the potential for national security concerns, a presidential review may be in order.
President Obama has already blocked one Chinese deal on national security grounds because the company expressed interest in wind-farm projects near a Naval weapons facility.
At this point in time, only the president has the ability to suspend or prohibit such transactions.