Archives: CFIUS

Committee on Foreign Investment in the U.S.

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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

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

Status Update:  Pending Investigation   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 December 21, 2016, the Committee on Foreign Investment in the United States (CFIUS) informed the parties that it will conduct a 45-day … 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

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

Status:  New/Upcoming 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   On December 14, NeuStar, Inc., a Virginia based technology company, announced that it entered an agreement to be acquired by an investment group led by Golden Gate Capital, a U.S. … Continue Reading

Upcoming/New CFIUS Filing: TDK Corporation and InvenSense, Inc.

Status:  Upcoming Filing/New   Acquirer:  TDK Corporation (Japan) Acquired:  InvenSense, Inc. (U.S.) Value:  Approx. US$1.3 billion Industry:  Information Technology   On December 21, 2016, InvenSense, Inc., a Delaware corporation entered into a merger agreement with TDK Corporation, a company organized under the laws of Japan, and its wholly owned subsidiary, TDK Sensor Solutions Corporation, a … 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

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

Status:  New Filing   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   Novatel Wireless, Inc., a Delaware corporation (“Novatel Wireless”), entered into a Stock Purchase Agreement on September 21, 2016, with T.C.L. Industries Holdings (H.K.) Limited, … Continue Reading

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

Status:  New Filing   Acquirer:  Canyon Bridge Capital Partners, Inc. (U.S.) Acquired:  Lattice Semiconductor Corp. (US) Value:  Approximately US$1.3 Billion Industry:  Integrated Circuits, Semiconductors   On November 3, 2016,  Lattice Semiconductor Corporation, an Oregon based manufacturer of high-performance programmable logic devices, and Canyon Bridge Capital Partners, Inc., an investment fund based in Palo Alto, California, announced … Continue Reading

Upcoming/New CFIUS Filing: Ritchie Bros. Auctioneers Inc. and IronPlanet Inc.

Status:  Upcoming/New Filing   Acquirer:  Ritchie Bros. Auctioneers Incorporated (Canada) Acquired:  IronPlanet Inc. (US) Value:  Approx. US$758.5 million Industry:  Equipment Distribution   On August 29, 2016, Ritchie Bros. Auctioneers Inc., a Canadian company, and IronPlanet Inc., a private company based in the United States,  announced that they entered into an agreement by which Ritchie Bros. … Continue Reading

Upcoming/New CFIUS Filing: Siemens Industry, Inc./Siemens AG and Mentor Graphics Corporation

Status:  Upcoming/New Filing   Acquirer:  Siemens Industry, Inc. (U.S.); Siemens AG (Germany) Acquired:  Mentor Graphics Corporation (U.S.) Value:  US$4.5 Billion Industry:  Integrated Circuits; Electronic Engineering   On November 12, 2016, Mentor Graphics Corporation, an Oregon corporation,  Siemens Industry, Inc., a Delaware corporation and subsidiary of German based Siemens AG, entered into an Agreement and Plan … Continue Reading

CFIUS Clearance: ASML Holding NV and Hermes Microvision, Inc.

Status:  Clearance   Acquirer:  ASML Holding NV (The Netherlands) Acquired:  Hermes Microvision, Inc. (Taiwan) Value:  Approx. NT$100 billion (US$3.1 billion) Industry:  Semiconductors   ASML Holdings NV, a Netherlands company that manufactures “chip-making equipment,” announced on October 26, 2016, that it received all necessary regulatory clearance, including from the Committee on Foreign Investment in the United … Continue Reading

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

Status:  New/Upcoming Filing   Acquirer:  Zhongwang USA LLC (U.S.); Liu Zhongtian (China) Acquired:  Aleris Corporation (U.S.) Value:  Approx. US$2.3 billion Industry:  Steel   On August 29, 2016,  Aleris Corporation, a Delaware corporation, Zhongwang USA LLC, a Delaware limited liability company, Zhongwang Aluminum Corporation, a Delaware corporation and a direct, wholly owned subsidiary of Zhongwang USA, … Continue Reading

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

Status: Pending Clearance   Acquirer: Chongqing Casin Enterprise Group (China) Acquired: Chicago Stock Exchange, Inc. (US) Value: Unknown Industry: Financial Services   On February 5, 2016, The Chicago Stock Exchange, Inc. (“CHX”) announced that it has entered into a definitive agreement to be acquired by an investor group led by Chongqing, China based Chongqing Casin Enterprise … Continue Reading

CFIUS Clearance: Beijing E-Town Chipone Technology Co. and Integrated Memory Logic Limited

Status:  Clearance   Acquirer:  Beijing E-Town Chipone Technology Co., Ltd. (China) Acquired:  Integrated Memory Logic Limited (U.S.) Value:  Approx. US$144.5 million Industry:  Semiconductors; Integrated Circuits   On November 2, 2016, Exar Corporation announced that it received clearance from the Committee on Foreign Investment in the United States (CFIUS) concerning the sale of its fabless semiconductor … Continue Reading

Pending CFIUS Review: Algonquin Power & Utilities Corp. and Empire District Electric Company

Status:  Pending Filing   Acquirer:  Algonquin Power & Utilities Corp. (Canada) Acquired:  Empire District Electric Company (Missouri, U.S.) Value:  Approx. US$2.4 billion Industry:  Energy, Regulated Utilities   Empire District Electric Co., an energy company based in Missouri, confirmed in a quarterly report that it and Algonquin Power & Utilities Corp. filed a joint voluntary notice … Continue Reading

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

Status:  New Filing   Acquirer:  Samsung Electronics Co. Ltd. (Korean) Acquired:  Harman International Industries, Inc. (U.S.) Value:  Approx. US$8 Billion Industry:  Automotive Electronics   On November 14, 2016, Harman International Industries, Inc., a Delaware corporation, and Samsung Electronics Co. Ltd. announced that they have entered into an Agreement and Plan of Merger by which Harman … Continue Reading

Upcoming/New CFIUS Filing: Sibanye Gold Ltd. and Stillwater Mining Co.

Status:  Upcoming / New Filing   Acquirer:  Sibanye Gold Ltd.   (South Africa) Acquired:  Stillwater Mining Co.   (US) Value:  Approx. US$2.2 Billion Industry:  Precious Metal Mining   On December 9, 2016 , Stillwater Mining Company, a Colorado based mining company, announced that it entered a merger agreement with Sibanye Gold Limited, a South Africa mining company, … Continue Reading

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

Status:  Pending Filing   Acquirer:  Infineon Technologies AG (Germany) Acquired:  Cree, Inc. (US) Value:  US$850 million Industry:  Semiconductors   As previously covered on this blog, Cree, Inc., reached an agreement to sell its Wolfspeed business to Infineon Technologies AG in July 2016. (See our previous blog post here.)  According to a regulatory filing by Cree, … Continue Reading
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