Representatives of the European Parliament, the Council and the Commission officially began negotiations June 17 on updated foreign direct investment screening rules with the aim of reaching a political agreement on a final text. The talks started days after EU member state representatives finalized their negotiating position (see 2506120057) and a month after the parliament approved the updates (see 2505090020), which would add more sectors to the scope of FDI restriction, allow the European Commission to intervene in member state disagreements and more. The EU didn't provide a timeline for when talks are expected to conclude.
The Trump administration released more details about the conditions for Japan-based Nippon Steel's purchase of U.S. Steel, which Trump said would result in a $14 billion investment in the U.S. economy while keeping the American company headquartered in the U.S. (see 2505230075).
Although the Trump administration is calling the recently announced deal between Japan-based Nippon Steel and U.S. Steel (see 2505290058) a "partnership," it’s still a traditional acquisition that includes a national security agreement with the Committee on Foreign Investment in the U.S., panelists said this week.
The United Steelworkers said May 28 that it remains uncertain what the recently announced “planned partnership” between Japan-based Nippon Steel and U.S. Steel will entail.
President Donald Trump said May 23 that Japan-based Nippon Steel and U.S. Steel will enter a “planned partnership” that will invest in the 124-year-old American company while preserving its identity.
Cooley this month published data about its experience advising on non-notified deals before the Committee on Foreign Investment in the U.S. between 2020 and 2024, outlining which investor nationalities, industry sectors and transaction sizes most often received CFIUS scrutiny.
The United Steelworkers urged President Donald Trump May 22 to reject Japan-based Nippon Steel Corp.'s proposed acquisition of U.S. Steel, saying the deal could harm domestic steel manufacturing.
The full European Parliament last week voted to expand the bloc’s foreign direct investment screening rules, which would add more sectors to the scope of restrictions and allow the European Commission to intervene in member state disagreements.
President Donald Trump told NBC’s “Meet the Press” May 4 that he “would be willing” to provide China’s ByteDance more time to divest TikTok if it can’t find a buyer by the June 19 deadline. Trump already has given ByteDance two 75-day extensions to comply with a 2024 law that requires the company to sell TikTok or face a U.S. ban on the popular social media application (see 2504040062).
The Committee on Foreign Investment in the U.S. has cleared a planned merger between North Carolina-based Piedmont Lithium Inc. and Canada-based Sayona Mining Ltd., Piedmont announced April 23. The combination also has received approval under the Investment Canada Act, as well as the U.S. antitrust law, the Hart-Scott-Rodino Act, Piedmont said. Upon completion of the transaction, which still requires shareholder approval, the merged business will be named Elevra Lithium Ltd.