An upcoming fast-track process for certain deals filed with the Committee on Foreign Investment in the U.S. could apply to a broad range of American allies and transactions, although key questions remain about what foreign investors will need to do to qualify, law firms said this month.
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 U.K. should change its foreign investment screening process to better support British technology firms and shouldn't hurry to agree to increased U.S. restrictions against China, the U.K. Parliament was told last week.
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.
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The Treasury Department will create a new fast-track process for certain deals filed with the Committee on Foreign Investment in the U.S., the agency announced May 8, saying the process will help encourage more investments in American businesses from close U.S. allies.
Sens. Todd Young, R-Ind., and Mark Warner, D-Va., said the Committee on Foreign Investment in the U.S. should review the potential purchase by a foreign entity of 23andMe, a bankrupt U.S. biotechnology firm that holds sensitive information on millions of people. In an April 28 letter to DOJ and the Federal Trade Commission, the senators commended DOJ for recently recommending such a CFIUS review. The senators are particularly concerned that China could buy 23andMe and use the company's data for “malign” purposes, such as transnational surveillance.
Companies subject to U.S. investment screening are hoping the Trump administration takes a more predictable approach to reviews by the Committee on Foreign Investment in the U.S., including by focusing on purely national security concerns, industry officials said this week.
The Treasury Department is exploring several ways to improve its screening of inbound and outbound investment, Deputy Treasury Secretary Michael Faulkender said April 24.
Three senators introduced a bill April 9 that would authorize the Committee on Foreign Investment in the U.S. to review greenfield and brownfield investments in the U.S. by China and other “foreign countries of concern.”