Senators Eye Reforming Foreign-U.S. Merger Review

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00020762-senators-eye-reforming-foreign-us-merger-/

By Jeremy Pelofsky, Reuters

U.S. Senate Banking Committee Chairman Richard Shelby called for improvements in how the government reviews foreign purchases of U.S. companies, but he was unsure about specific reforms that should be pursued.

The Committee on Foreign Investments in the United States (CFIUS), an interagency panel led by the U.S. Treasury, has been under new scrutiny since China’s state-controlled CNOOC Ltd. bid for American oil company Unocal.

CNOOC abandoned the bid this summer under a hail of criticism by U.S. lawmakers who also began looking at whether CFIUS’ national security criteria should be broadened to include economic security, among other possible changes.

For this complete story, please visit US senators eye reforming foreign-US merger review.

Senators Eye Reforming Foreign-U.S. Merger Review

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