chinese takeover of german firm leifeld collapses - household appliances manufacturer

The German government has rejected a Chinese company's acquisition of an engineering company on national security grounds.
China's Yantai had planned to buy machine tool maker Leifeld, but the move raised political concerns.
After Berlin said it would use new powers to stop foreign acquisitions, Yantai withdrew its request.
Leifeld focuses on the manufacture of German aerospace and nuclear industry.
Last year, Germany strengthened regulation of foreign investment and gave it more power to stop acquisitions.
Leifeld's deal is the first time the new rules take effect.
Leifeld's major shareholder, Georg Koffler, told Reuters that Yantai had given up its attempt to acquire the company before the Berlin veto.
He criticized Berlin's willingness to intervene and told Reuters: "We don't think these security policy concerns are justified.
"The move comes amid concerns that Chinese companies may gain too much influence in the European economy through foreign investment.
Some politicians and businessmen complain that the EU is much more open to overseas investment than Beijing allows.
But in June, the Chinese government relaxed rules restricting foreign capital from entering the Bank of China, the auto industry and agriculture.
Germany appears to have joined the US and Canada in an attempt to impose a hard stance on business deals with China.
In July, the United States considered plans to curb Chinese investment in the United States.
The review has to do with the concerns of Chinese companies, many of which are state-owned enterprises --
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Technology industries that can be used for military purposes.
The last time a Chinese company bought a German company was in 2016, when Midea, China's largest home appliance maker, bought Kuka, an industrial robot maker.