Zhongwang USA, an investment firm backed by a Chinese aluminum tycoon, and U.S. aluminum maker Aleris Corp have dropped plans to merge, Aleris and Zhongwang USA said on Monday.
The companies had tried unsuccessfully to win approval for the $2.33 billion deal from the U.S. Committee on Foreign Investment in the United States (CFIUS), which assesses mergers to ensure they do not endanger national security.
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