M&A practitioners around the world are watching as more
countries than ever before are setting up regulatory regimes, or strengthening
those they have, to give their governments impressive power over foreign
acquirers and whether their bids for domestic targets will succeed, enter
limbo, or face an unwinding years after the closing. “This is THE big story for
M&A,” says Bruce Embley of the Freshfields London
To help navigate the new era of national security reviews of
foreign direct investment, a team of White & Case lawyers provide a sextant
to guide dealmakers who may find themselves at sea as regulatory agencies
proliferate to protect their domestic targets from turning into easy prey.
Senator John Cornyn (R-TX) and Representative Robert Pittenger (R-NC) have introduced parallel legislation that
could turn CFIUS into a Scylla of the M&A oceans, with new review
timeframes, certain notifications mandatory and an expansion of the reach of
the already powerful U.S. regulatory agency.