Committee on Foreign Investment in the United States (CFIUS)

Even Before TikTok’s Troubles, Chinese Companies Were Wary of Washington

David Bale6 months ago07 mins

Chinese tech companies long looked to the United States as a key market and source of investment. Firms like ByteDance, the company behind TikTok, courted major American investment firms like General Atlantic and Susquehanna Capital. Chinese start-ups in Shanghai and Shenzhen saw an initial public offering on the Nasdaq or New York Stock Exchange as…

Cleveland-Cliffs Signals a Possible New Bid for U.S. Steel

David Bale6 months ago06 mins

A possible new takeover bid for U.S. Steel emerged on Monday, teeing up more turmoil over the once-dominant company’s future after President Biden’s decision to block its acquisition by a Japanese company. Lourenco Goncalves, the chief executive of an American competitor, Cleveland-Cliffs, said his company had “an All-American solution to save the United States Steel…

U.S. Steel and Nippon Sue Biden Over Decision to Block Deal

David Bale6 months ago012 mins

U.S. Steel and Japan’s Nippon Steel sued the United States government on Monday in a last-ditch attempt to revive their attempted merger after President Biden blocked it last week on the basis that the transaction posed a threat to national security. The lawsuit, filed in a federal court in Washington, accused Mr. Biden and other…

Biden Blocks Takeover Bid of U.S. Steel by Japan’s Nippon

David Bale6 months ago017 mins

President Biden blocked the $14 billion takeover of U.S. Steel by Nippon Steel of Japan in an announcement on Friday based on grounds that the sale posed a threat to national security. The decision was an extraordinary use of executive power, particularly for a president who is just weeks from leaving office. It is also…