Archives: CFIUS

Committee on Foreign Investment in the U.S.

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CFIUS Filing Clearance: Chinese Consortium and LEDvance

Status:  Clearance   Acquirer:  IDG Capital Partners, MLS Co, Ltd. and Yiwu State-Owned Assets Operation Center (China) Acquired:  LEDvance, business unit of Osram Licht AG (German) Value:  Approx. EUR400 million (US$442.2 million) Industry:  LED/semiconductor lighting   According to recent news reports, the Committee on Foreign Investment in the United States (CFIUS) has cleared the proposed … Continue Reading

CFIUS Filing Clearance: Samsung Electronics Co. Ltd. and Harman International Industries, Inc.

Status Update:  Clearance   Acquirer:  Samsung Electronics Co. Ltd. (Korean) Acquired:  Harman International Industries, Inc. (U.S.) Value:  Approx. US$8 Billion Industry:  Automotive Electronics   UPDATE:  On February 17, 2017, Harman International Industries reported that, in connection with its November 14, 2016 merger agreement with Samsung Electronics Co., Ltd., the parties “received clearance from CFIUS to … Continue Reading

Upcoming/New CFIUS Filing: Sonaca S.A. and LMI Aerospace

Status:  Upcoming/New Filing   Acquirer:  Sonaca S.A. (Belgium) Acquired:  LMI Aerospace, Inc. (US) Value:  US$14/Share (total value unknown) Industry:  Aerospace   On February 16, 2017, LMI Aerospace, Inc., a St. Louis based global supplier of structural assemblies, kits and components and provider of engineering services to the commercial, business and regional and military aerospace markets, … Continue Reading

CFIUS Filing Update: Infineon Technologies AG and Cree, Inc.

Status Update: Withdrawn   Acquirer:  Infineon Technologies AG (Germany) Acquired:  Cree, Inc. (US) Value:  US$850 million Industry:  Semiconductors   UPDATE:  On February 16, 2017, Cree Inc., announced that “it will terminate the definitive agreement to sell its Wolfspeed Power and RF division (“Wolfspeed”), which includes the silicon carbide substrate business for power, RF and gemstone applications, … Continue Reading

Upcoming/New CFIUS Filing: SoftBank Group Corp. and Fortress Investment Group

Status:  Upcoming/New Filing   Acquirer:  SoftBank Group Corp.(Japan) Acquired:  Fortress Investment Group (US) Value:  US$3.3 billion Industry:  Financial Services   On February 14, 2017, Fortress Investment Group LLC, a U.S. based investment firm with over US$70 billion in assets under management, announced that it has entered into a merger agreement with SoftBank Group Corp., a … Continue Reading

Upcoming/New CFIUS Filing: Safran SA and Zodiac Aerospace

Status:  Upcoming/New Filing   Acquirer:  Safran SA (France) Acquired:  Zodiac Aerospace SA (France) Value:  US$10.5 billion Industry:  Aerospace   On January 19, 2017, Safran SA, and Zodiac Aeospace SA, France’s two largest aeronautic suppliers, announced an agreed public cash offer by Safran for Zodiac shares, valued at approximately US$10.5 billion.   (See Safran and Zodiac Joint … Continue Reading

CFIUS Filing Update: China Oceanwide Holdings Group Co. Ltd. and Genworth Financial, Inc.

Status Update:  New Filing   Acquirer:  China Oceanwide Holdings Group Co. Ltd (China) Acquired:  Genworth Financial Inc. (US) Value:  US$2.7 billion Industry:  Financial Services   UPDATE:  Genworth Financial, Inc., a U.S. insurance company,  and China Oceanwide Holdings Group Co., Ltd., reported that they are “waiting for the CFIUS staff to initiate the review period” in … Continue Reading

CFIUS Filing Update: Zhongwang USA LLC/Liu Zhongtian and Aleris Corporation

Status Update:  Withdraw and Re-File   Acquirer:  Zhongwang USA LLC (U.S.); Liu Zhongtian (China) Acquired:  Aleris Corporation (U.S.) Value:  Approx. US$2.3 billion Industry:  Steel   UPDATE:  Delaware based aluminum manufacturer, Aleris Corporation, has reported in a regulatory filing concerning its planned merger with Zhongwang USA LLC that “CFIUS has identified national security concerns with the Merger.”  … Continue Reading

CFIUS Filing Update: Golden Gate Capital/GIC Pte. Ltd. and NeuStar, Inc.

Status Update:  New Filing   Acquirer:  Golden Gate Capital (U.S.); GIC Pte. Ltd. (Singapore) Acquired:  NeuStar, Inc. (U.S.) Value:  Approx. US$2.9 billion Industry:  Information Technology   UPDATE:  According to a NeuStar, Inc., regulatory filing, “[o]n February 3, 2017, the parties filed a draft notification form with CFIUS,” in connection with NeuStar’s acquisition by Golden Gate … Continue Reading

CFIUS Filing Update: T.C.L. Industries Limited/TCL Corporation and Inseego Corp./Novatel Wireless

Status Update:  Withdraw and Re-File   Acquirer:  T.C.L. Industries Holdings (H.K.) Limited (Hong Kong SAR, China); TCL Corporation (China) Acquired:  Inseego Corp. (U.S.); Novatel Wireless, Inc. (U.S.) Value:  US$50 million Industry:  Telecommunications   UPDATE:  On February 3, Inseego Corp. issued a press release and made a security filing stating that, in connection with its proposed … Continue Reading

CFIUS Filing Update: TDK Corporation and InvenSense, Inc.

Status Update:  Pending Filing   Acquirer:  TDK Corporation (Japan) Acquired:  InvenSense, Inc. (U.S.) Value:  Approx. US$1.3 billion Industry:  Information Technology   UPDATE:  On February 3, 2017, InvenSense Inc. publicly reported that “InvenSense and TDK Corporation filed a joint voluntary draft notice with CFIUS on January 24, 2017” in connection with InvenSense’s acquisition by TDK Corporation.  … Continue Reading

CFIUS Filing Update: Sibanye Gold Ltd. and Stillwater Mining Co.

Status Update:  New Filing   Acquirer:  Sibanye Gold Ltd.   (South Africa) Acquired:  Stillwater Mining Co.   (US) Value:  Approx. US$2.2 Billion Industry:  Precious Metal Mining   UPDATE:  Stillwater Mining Company, a Colorado based mining company, and Sibanye Gold Limited, a South Africa company, have reportedly “filed a joint voluntary notice for CFIUS clearance on January 18, … Continue Reading

CFIUS Filing Update: Canyon Bridge Capital Partners, Inc. and Lattice Semiconductor Corp.

Status Update:  Filing Under Review   Acquirer:  Canyon Bridge Capital Partners, Inc. (U.S.) Acquired:  Lattice Semiconductor Corp. (US) Value:  Approximately US$1.3 Billion Industry:  Integrated Circuits, Semiconductors   UPDATE:  According to a recent securities filing on January 27, 2017, “[the parties have] filed a joint voluntary draft notice with CFIUS, have received comments from CFIUS staff … Continue Reading

Upcoming/New CFIUS Filing: Ant Financial and MoneyGram International, Inc.

Status:  Upcoming/New Filing   Acquirer:  Ant Financial (China) Acquired:  MoneyGram International, Inc.  (US) Value:  US$880 million Industry:  Financial Services   On January 26, 2017, MoneyGram International, Inc., a Dallas, TX based provider of money transfer services, entered into an Agreement and Plan of Merger with Alipay (UK) Limited, a United Kingdom limited company (“Parent”), Matrix … Continue Reading

Upcoming/New CFIUS Filing: AltaGas Ltd. and WGL Holdings, Inc.

Status:  Upcoming/New Filing   Acquirer:  AltaGas Ltd. (Canada) Acquired:  WGL Holdings, Inc.  (US) Value:  US$6.4 billion Industry:  Energy, Regulated Utilities   WGL Holdings, Inc., a Washington, D.C. based regulated utility provider of natural gas, electricity, green power and energy services, announced that it is to be acquired in US$6.4 Billion Transaction by AltaGas Ltd., a … Continue Reading

Upcoming/New CFIUS Filing: Draper Athena and ATopTech, Inc.

Status:  Upcoming/New Filing   Acquirer:  Draper Athena Acquired:  ATopTech, Inc. (US) Value:  Unknown Industry:  Software   In a declaration submitted to the US Bankruptcy Court in Delaware, Jue-Hsien Chern, the CEO of ATopTech, Inc., a Santa Clara, California company that develops software used by engineers to design integrated circuits, stated that ATopTech, and its subsidiaries … Continue Reading

CFIUS Filing Update: Bayer AG and Monsanto

Status Update:  Pending Filing   Acquirer:  Bayer AG (Germany) Acquired:  Monsanto (US) Value:  Approx. US$66 Billion Industry:  Chemicals/Agrochemicals   UPDATE: In a quarterly securities filing, Monsanto noted that the parties were awaiting “completion of the [CFIUS] review process” relating to its pending merger with Bayer.  (Monsanto, Form 10-Q, Jan. 6, 2017, SEC Filing.)   First posted on October 12, 2016: … Continue Reading

CFIUS Clearance: Enbridge Inc. and Spectra Energy Corp.

Status Update: Clearance   Acquirer: Enbridge Inc. (Canada) Acquired: Spectra Energy Corp. (U.S.) Value: Approx. US$28 billion Industry: Energy, Regulated Utilities   UPDATE: On December 21, 2016, Spectra Energy Corp announced the parties received notice from the Committee on Foreign Investment in the United States (CFIUS) “that it has concluded its review of the proposed combination of … Continue Reading

Pending CFIUS Filing: Midea Group Co. Ltd. and KUKA AG

Status:  Pending, Divestiture   Acquirer:  Midea Group Co., Ltd. (China) Acquired:  KUKA AG (Germany) Value:  Est. US$1.3 billion Industry:  Technology; Automation   On June 28, 2016, KUKA AG, a German based supplier of intelligent automation solutions, signed an investor agreement with Midea Group Co., Ltd., a publicly trade Chinese company and major home appliance producer. … Continue Reading

New CFIUS Filing: Broadcom Ltd. and Brocade Communications Systems, Inc.

Status:  New Filing   Acquirer:  Broadcom Ltd. (Singapore) Acquired:  Brocade Communications Systems, Inc. (US) Value:  Approx. US$5.9 Billion Industry:  Network and Data Solutions   UPDATE: Brocade Communications Systems reported that the parties “pre-filed a joint voluntary notice to CFIUS on December 16, 2016.” (Brocade Communications Systems, Schedule 14A, Dec. 20, 2016, SEC Filing.) For more … Continue Reading

Pending CFIUS Filing: Enbridge Inc. and Spectra Energy Corp.

Status Update:  Pending Filing   Acquirer:  Enbridge Inc. (Canada) Acquired:  Spectra Energy Corp. (U.S.) Value:  Approx. US$28 billion Industry:  Energy, Regulated Utilities   According to a recent regulatory filing, “[o]n October 11, 2016, Spectra Energy and Enbridge submitted a draft joint voluntary notice with the Committee on Foreign Investment in the United States (CFIUS). On … Continue Reading

CFIUS Clearance: Chongqing Casin Enterprise Group and Chicago Stock Exchange, Inc.

Status:  Clearance   Acquirer:  Chongqing Casin Enterprise Group (China) Acquired:  Chicago Stock Exchange, Inc.  (US) Value:  Unknown Industry:  Financial Services   UPDATE:  On December 14, 2016, Reuters reported that the Chicago Stock Exchange confirmed that CFIUS had cleared the proposed investment by the Chongqing Casin Enterprise Group. (See Reuters, Exclusive: U.S. security panel clears Chinese … Continue Reading

New CFIUS Filing: Boral Limited and Headwaters Incorporated

Status:  New Filing   Acquirer:  Boral Limited (Australia) Acquired:  Headwaters Incorporated (US) Value:  US$2.6 billion Industry:  Construction Materials   On November 20, 2016, Headwaters Incorporated, a Delaware corporation, entered into a merger agreement with Boral Limited, an Australian corporation, and Enterprise Merger Sub, Inc., a Delaware corporation and an indirect wholly owned subsidiary of Boral … Continue Reading

CFIUS Requested Post-Closing Filing: Fosun International Ltd. and Ironshore, Inc.

Status:  Post-Closing Filing   Acquirer:  Fosun International Limited (Hong Kong SAR, China) Acquired:  Ironshore, Inc. (U.S.) Value:  US$1.84 billion Industry:  Insurance   Fosun International Limited (referred to commonly as “China Fosun Group”) completed the acquisition of Ironshore Inc., a U.S. based insurance and investment company, in November of 2015 (see Fosun International Press Release, Nov. … Continue Reading
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