Both companies failed to convince the Committee on Foreign Investment in the United States (CFIUS) to clear the deal, Philips said, adding that it is seeking another buyer for the unit.
"We will now engage with other parties that have expressed an interest in exploring strategic options for Lumileds," Philips chief executive Frans van Houten said in a statement.
Philips and GO Scale have now withdrawn their CFIUS filing, the Dutch company said, calling the US regulatory concerns "unforeseen".
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