News & Analysis as of

Critical Infrastructure Sectors Mergers Committee on Foreign Investment in the United States

Axinn, Veltrop & Harkrider LLP

Can You Ever Come Back from a Presidential Block? The Latest in the Nippon Steel/U.S. Steel Saga

When former President Biden blocked the acquisition by Nippon Steel of U.S. Steel in January on national security grounds, many assumed that was the end for a transaction that would have combined a Japanese powerhouse company...more

American Conference Institute (ACI)

Industry Responses to the U.S. Outbound Investment Regulatory Regime

The only thing truly certain about the proposed U.S. outbound investment regulatory regime is that a lot of uncertainty remains. But industry responses garnered during the comment period may, at least partly, foretell the...more

White & Case LLP

Foreign direct investment reviews 2023: A global perspective

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Now in its seventh year of annual publication, White & Case's Foreign Direct Investment Reviews provides a comprehensive look into rapidly evolving foreign direct investment (FDI) laws and regulations in approximately 40...more

Holland & Knight LLP

New Executive Order Creates Roadmap of Heightened CFIUS Scrutiny for Cross-Border M&A

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President Joe Biden signed an Executive Order (E.O.) on Sept. 15, 2022, clarifying and elaborating key U.S. industries and business sectors that should expect heightened regulatory scrutiny from the Committee on Foreign...more

HaystackID

[Webcast Transcript] CFIUS Compliance: Your Approach May Be A Matter of National Security

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Editor’s Note: On July 27, 2022, HaystackID shared an educational webcast on the topic of Committee on Foreign Investment in the United States (CFIUS) compliance. CFIUS is a U.S. government interagency committee with the...more

White & Case LLP

CFIUS set to continue careful scrutiny under Biden Administration

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President Joe Biden's approach to the national security risks posed by foreign-backed M&A may differ in style from his predecessor, but not in substance - Under the Biden administration, the Committee on Foreign Investment...more

Dorsey & Whitney LLP

UK To Adopt New Powers Over M&A Activity To Protect National Security

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Draft legislation, which is currently being debated in the UK Parliament, will introduce a new regime granting the UK Secretary of State robust powers to review, vary or block acquisitions which may pose a risk to the...more

Katten Muchin Rosenman LLP

New UK Rules for Reviewing Foreign Direct Investment

In November 2020, the UK Government introduced the National Security and Investment Bill (the "Bill"). Subject to the passing through UK Parliament, the Bill is expected to become law in early 2021, ushering in a Committee on...more

Akin Gump Strauss Hauer & Feld LLP

Reminder Regarding the Jurisdictional Reach and Limits of U.S. Export Control, Sanctions, and Foreign Investment Regulations

United States export control, sanctions, and foreign investment (CFIUS) regulations advance U.S. national security and foreign policy interests, but in very different ways. They are also quite complex. As a result, media...more

BCLP

French M&A Transactions in Sensitive Sectors

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A takeover of a French company carrying on so-called ‘sensitive’ activity in France by a company ultimately controlled by foreigners - European Union and non-EU - is subject to the prior authorization of the Ministry of the...more

Morrison & Foerster LLP

Key M&A Trends For 2020

Global M&A made another strong showing in 2019, as stock markets, while at times bumpy, rose to new highs, private equity firms raised record funds, and companies searched for growth and ways to address technological and...more

Akin Gump Strauss Hauer & Feld LLP

Treasury Releases Final Regulations Implementing CFIUS Reform

Key Points - On January 13, 2020, the U.S. Department of Treasury released final rules implementing FIRRMA, which reforms the CFIUS framework. These rules will take effect on February 13, 2020. - The final rules...more

Skadden, Arps, Slate, Meagher & Flom LLP

US M&A Activity Remains Strong Despite Concerns

Although the U.S. M&A market has remained relatively strong by historical standards so far in 2019, activity has softened compared to the higher levels in 2017 and 2018, continuing a trend that began in the second half of...more

White & Case LLP

Peak performance: US M&A in 2018: Confidence, cash and tax cuts: The US M&A landscape in 2018

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The US M&A market delivered another year of strong performance in 2018. Though deal volume dipped 2 percent year-on-year to 5,682 deals, deal value was up by 15 percent over the period, to US$1.5 trillion - A number of...more

Latham & Watkins LLP

New UK National Security M&A Regime Expected in 2019

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In June 2018, the UK adopted new powers to review certain technology related deals on national security grounds, extending the scope and breadth of its control regime to those that concern computing hardware, or quantum...more

WilmerHale

EU and Germany Move to Further Tighten FDI Screening Process

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The past two weeks have seen two major developments in relation to the screening of foreign direct investment in the European Union (“EU”) for national security or public order reasons. First, on December 10, 2018, the EU...more

Sheppard Mullin Richter & Hampton LLP

The Little Regulation That Will Make a Big Change in How You Do Business: Department of Commerce to Establish New Export Controls...

Key Takeaways: • Emerging technology sectors will soon be subject to new export controls. • Affected sectors include biotech, computing, artificial intelligence, positioning and navigation, data analytics, additive...more

Bilzin Sumberg

National Security Review of Foreign Investments to Escalate

Bilzin Sumberg on

With its roots in the Exon-Florio Amendment to the Defense Production Act, the Committee on Foreign Investment in the United States (CFIUS), is an inter-agency committee that reviews certain foreign investments in the United...more

Jones Day

UK Cites Security Reasons for Proposed Deal Notification Regime

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A consultation paper on national security and investment published by the UK government advocates extensive changes to current provisions regarding foreign investment in UK businesses. In essence, the proposed changes would...more

Pillsbury Winthrop Shaw Pittman LLP

Spring 2018 CFIUS Briefing

“Dozens of Transactions Were Cleared” - Contrary to popular belief, most China-U.S.deals are still getting done. Even the Trump Administration recognizes CFIUS should not close the door to investment from China. The...more

Cooley LLP

Alert: M&A Guide to CFIUS: Deciding Whether to Submit Voluntarily to CFIUS Review

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As discussed in a prior article in this series, the Committee on Foreign Investment in the United States is authorized to review certain cross-border mergers, acquisitions and investment transactions and to recommend that the...more

Jones Day

Chinese Investments and the Committee on Foreign Investment in the United States

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The Situation: Transactions involving Chinese investors continue to receive increased scrutiny by CFIUS. The Result: Chinese investments in the United States can face an uphill battle at CFIUS....more

Jones Day

Foreign Investment Control Heats Up: A Global Survey of Existing Regimes and Potential Significant Changes on the Horizon

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Mergers and acquisitions by multinational companies require attention to foreign investment controls around the world, and such controls vary widely. For example, requirements for determining whether such controls apply, the...more

Proskauer Rose LLP

The Rise of Western Protectionism Is Set to Impact Global M&A

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This year has seen a surge in western protectionist sentiment as a number of countries have sought to introduce legislation to tighten their laws on foreign investment and public interest issues. In Europe, the European...more

Akin Gump Strauss Hauer & Feld LLP

CFIUS’s 2015 Annual Report and Published 2016 Data Demonstrate Uptick in Review Activity and Scrutiny

On September 19, 2017, the Committee on Foreign Investment in the United States (CFIUS or the “Committee”) released its annual report (“Report”) to Congress. One day later, CFIUS also released more limited data on foreign...more

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