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Saturday, November 21, 
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Entries tagged "CFIUS"

Hummer a rocky deal for Sichuan Tengzhong?

Nationalism in Washington won't stop GM's sale of Hummer to Chinese industrial concern Sichuan Tengzhong, but patriotic fervor could limit sales.


China to buy American?

Four years ago America and China fought a major battle over Cnooc's bid for Unocal. Would the U.S. allow such a deal today?


New CFIUS rules set

The Treasury Department Friday issued new regulations governing acquisitions of U.S. assets by foreign buyers reviewed by the Committee for Foreign Investment in the U.S. Among other things the rules clarify how the federal government will determine whether the buyer is gaining "control" of a U.S. company or other asset. Rather than applying a bright-line test to determine whether a transaction results in foreign control, CFIUS will consider all relevant facts and circumstances. ...


Obama and regulators have a new world of M&A

At The Deal's M&A Outlook 2009 conference, Wilmer Cutler Pickering Hale and Dorr LLP partner Jamie Gorelick said President-elect Barack Obama would like his administration to be diverse and offer competitive ideas. He won the presidency because the economy is the No. 1 issue on Americans' minds....


Sprint Nextel-SK Telecom: What would CFIUS do?

As rumors persist about a possible bid by South Korea's SK Telecom Co. Ltd. for Sprint Nextel Corp., thoughts turn to how the U.S. government might react. ...


Schumer may propose bill concerning CSX ruling

A battle over whether some activist hedge fund managers will be able to continue to sneak up on certain target corporations is being waged in the courts, the Securities and Exchange Commission and now even on Capitol Hill. ...


CFIUS to take on British activist hedge fund?

The Committee on Foreign Investment in the U.S., an interagency panel that examines U.S.-foreign deals for national security threats, may just review the activist Children's Investment Fund's large minority stake in railroad operator CSX Inc. But it would be an unusual review, if CFIUS decides to take it on. ...


Red tape awaits Finmeccanica's DRS deal

Italy's biggest arms maker Finmeccanica SpA's $5.2 billion acquisition of DRS Technologies Inc. will require at least three separate reviews by U.S. government agencies -- and it better not forget to file notice with all three.  ...


ChoicePoint refiles to CFIUS

Reed Elsevier plc and ChoicePoint Inc. intend to refile their merger application with the Committee on Foreign Investment in the U.S. The Anglo-Dutch Reed is buying the American data management and background check company for $3.4 billion....


Soapbox: At home, in a sense

Robert Schlossberg and Christine Laciak of Freshfields Bruckhaus Deringer LLP offer their views on the Treasury Department's draft proposal for legislation regarding CFIUS in The Daily Deal. The United States is a debtor nation--we need foreign money, and fortunately, we are an attractive economy in which to invest. Foreigners are not content, however, to invest solely in Treasury bills. They are also very interested in U.S. manufacturing, U.S. technology, U.S. roads and other infrastructure, as well as financial institutions, like stock exchanges, investment banks and private equity houses. Thus our general desire for foreign investment needs to be tempered or...


Congressman raises red flags over dead Huawei-3Com deal

Even though Bain Capital LLC announced in March that it was terminating its $2.2 billion acquisition of 3Com Corp., "Buy American" Congressman Duncan Hunter, R-Calif., isn't finished raising red flags over the matter. ...


CIC: Code of conduct will only hurt feelings

While the Committee on Foreign Investment in the United States may soon scrutinize every sovereign wealth fund investment, other intergovernmental organizations have other demands of sovereign funds, leaving some with a bitter taste. CBS' "60 Minutes" touched upon some of these issues in an interview with China Investment Corp.’s new president, Gao Xiqing. CIC, which is a sovereign fund formed by the Beijing governing council in 2007, has since acquired a $5 billion stake in ailing Morgan Stanley....



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Growth companies and their PE sponsors should be wary of the pitfalls that arise when they layer on tiers of preferred stock.


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Corporate buyers face numerous complexities when trying to identify the right moment to purchase a distressed asset.


Editor's Note

Editor's letter: Nov. 16, 2009

Beneath the veneer of Wall Streeters beats the same heart, stirred by the same determinants of behavior.



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