On 20 April 2021, the UK’s Competition and Markets Authority (CMA), the German Bundeskartellamt (BKartA) and the Australian Competition and Consumer Commission (ACCC) issued a joint statement¹ and held a joint online event pushing for more rigorous merger control enforcement. Our global competition team in these jurisdictions unpacks the joint statement and provides the following … Continue Reading
Status: Clearance Acquirer: TELUS International (Cda) Inc. (Canada) Acquired: Lionbridge AI business of Lionbridge Technologies, Inc. (U.S.) Value: US$939 million Industry: Artificial Intelligence; Information Services… Continue Reading
Status: Clearance Acquirer: Canadian Pacific Railway Limited (Canada) Acquired: Kansas City Southern (US) Value: US$29 billion Industries: Transportation; Infrastructure; Railway Update: On August 16, 2022, Canadian Pacific Railway Limited (TSX: CP; NYSE: CP) announced that “it has received the required regulatory clearance from the Committee on Foreign Investment in the United States (“CFIUS”) for the … Continue Reading
Status: Upcoming/New Filing Acquirer: CAE Inc. (Canada) Acquired: Military Training business of L3Harris Technologies, Inc. (US) Value: $1.05 billion Industry: Defense services… Continue Reading
International M&A practitioners are used to dealing with CFIUS for any transaction involving assets in the US. The Europeans M&A practitioners are, however, catching up, and many multijurisdictional deals will now face clearance in a number of countries. The latest addition to the list, the UK National Security and Investment Bill, is broad in scope … Continue Reading
The People’s Republic of China (PRC or China) established a foreign investment security review in 2011 that focused exclusively on the merger and acquisition of domestic companies by foreign investors in a notice issued by the State Council (the 2011 Notice)1. On December 19, 2020, the National Development and Reform Committee (NDRC) and the Ministry … Continue Reading
Status: Undetermined Acquirer: Brookfield Asset Management Inc. (Canada) Acquired: American Equity Investment Life Holding Company (US) Value: US$675 million Industry Tags: Financial Services; Insurance… Continue Reading
On November 11, 2020, the UK government announced a new NSI regime. Under the new regime, certain direct foreign investments in the UK will require mandatory notification to, and prior approval by, the Department for Business, Energy & Industrial Strategy (BEIS) before completion.… Continue Reading
On November 12, 2020, the President signed an Executive Order (EO) on “Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies.” The EO generally prohibits any transaction in publicly traded securities, or any securities that are derivative of, or are designed to provide investment exposure to such securities, of any Chinese military … Continue Reading
Status: Clearance Acquirer: GIC Pte. Ltd. (Singapore); The Carlyle Group Inc. (U.S.) Acquired: Partial ownership of American Express Global Business Travel (U.S.) Value: US$1 billion Industry: Logistics; Travel & Event Management… Continue Reading
Status: Clearance Acquirer: ProSiebenSat.1 Media SE (Germany) and General Atlantic Coöperatief U.A. (The Netherlands) Acquired: The Meet Group, Inc. (US) Value: $500 million (Approx.) Industry: Software; Information Services… Continue Reading
A complimentary invitation for the European Society of International Law (ESIL), Economic Law Interest Group’s online workshop, “International Economic Law between Emergencies and Reforms” for September 9, 2020 from 9:30-17:00 CEST is enclosed.… Continue Reading
On August 6, 2020, President Donald Trump signed two Executive Orders (EOs) targeting the TikTok and WeChat applications and their parent companies. Specifically, President Trump invoked the International Emergency Economic Powers Act (IEEPA) and other related statutes, as well as the national emergency he previously declared under these laws in Executive Order 13873 (Securing the … Continue Reading
On Tuesday, August 11, U.S. Customs and Border Protection (“CBP”) is scheduled to publish a notice in the Federal Register that could end the ability of manufacturers based in the Hong Kong Special Administrative Region (“Hong Kong”) of the People’s Republic of China (“China”) to avoid the tariffs imposed on Chinese products by the Trump … Continue Reading
The Department of Defense, the General Services Administration, and the National Aeronautics and Space Administration has published an interim final rule implementing section 889(a)(1)(B) of the John S. McCain National Defense Authorization Act for Fiscal Year 2019 (Pub. L. 115-232, the 2019 NDAA).¹ ² This interim final rule is effective August 13, 2020 and interested … Continue Reading
Notable Developments The United States House of Representatives and Senate have released text of their versions of the FY2021 National Defense Authorization Act (H.R. 6395 and S. 4049, respectively). The Huawei-related provisions are summarized below. House Huawei provisions: Sense of Congress affirming Section 889 of the FY19 NDAA, which concerns federal procurement of Huawei equipment, … Continue Reading
Here is your opportunity to be part of the biggest trade compliance conference of the year from the comfort and safety of wherever you might be. Streaming live from Washington DC and London on July 23 and 24, Content Enablers has convened a select panel of high-level government and industry policy leaders – featuring Matt … Continue Reading
