An interesting disclosure trend is emerging in SEC filings: Companies are announcing their intention not to file with CFIUS. “It’s like preemptive disclosure of a non-notified transaction,” says one expert. Details, examples, insights and more are inside.
Company provides plain English Q&A on CFIUS implications of deal
In a nice break from the typical legalese found in SEC filings, a semiconductor company has provided a simple plain-English Q&A to describe the regulatory implications of its acquisition by a Chinese private-equity firm. Details, the Q&A, contacts, and more are inside.
Company makes rare disclosure of draft National Security Agreement
In a rare press release, a commercial satellite company has announced it received a draft National Security Agreement from CFIUS. Most NSAs aren’t disclosed via Business Wire, if at all; they’re typically buried in 10-Ks. Details, the backstory, the disclosure, and more are inside.
CFIUS disclosures: mitigation deal, foreign person declarations, more
As FIW readers know, we scour SEC disclosures daily to unearth CFIUS filings, clearances and more. Occasionally, we find trends and anomalies worth hitting with a spotlight. This week we highlight uniform “foreign person” declarations, CFIUS-related termination rights, and more.
Comparing CFIUS risk disclosures in the annual reports of PE firms
It’s 10-K season, so we thought it made sense to take another look at how companies are disclosing CFIUS risks in their annual reports. This week, we look at the risk disclosures made by the Carlyle Group, KKR, and other large private-equity firms.
Warning: Case shows how scope of CFIUS reviews can expand widely
Last week, Foreign Investment Watch came across an interesting case. A joint voluntary notice filed with CFIUS, which was related to a particular acquisition, seems to have triggered a review that was unrelated to the deal. Details, the filing, and expert insights are inside.
Company provides details on its CFIUS monitoring agreement
As Foreign Investment Watch has covered extensively, the number of mitigation agreements monitored by the Department of Justice is on the rise. This week, we provide details on one company’s monitoring conditions, and revisit the basics on mitigation agreements.
“We are deemed a foreign person”: Sample disclosures
Last week, a reader asked us to track down an example of a foreign person disclosure. So we did. Inside are a couple pre- and post-FIRRMA disclosures, with details, original filings, contact information, and more.
And the award for best CFIUS disclosure goes to…
Every week, Foreign Investment Watch editors review hundreds of public disclosures related to CFIUS filings. This week we found the best ever. Details, excerpt, and contacts inside…
London Stock Exchange gets CFIUS nod for acquisition
The Committee on Foreign Investment in the United States has given approval to the London Stock Exchange Group to acquire a U.S.-based financial data and infrastructure company. Details, disclosure and contacts inside…
UK regulator probes aerospace merger for national security
The UK’s Competitive Markets Authority recently announced it was investigating the anticipated acquisition of an engineering firm that specializes in working with aerospace companies. Details, the disclosures, and more on the UK’s regulatory framework are inside…
First TID disclosure in reps and warranties?
For the first time since FIRRMA became effective on Feb. 13, Foreign Investment Watch editors identified a “critical technologies” disclosure in the Representations and Warranties section of a collaboration agreement. Details, disclosure, and contacts are inside…
Another law firm champions role in CFIUS clearance
For the second time in the last 30 days, we’ve seen a global law firm publicly disclose their role in facilitating CFIUS clearance for a client. Details, disclosures, contacts and more are inside…
KKR, Apollo continue trend of warning about CFIUS impact
Global investment firms KKR and Apollo Global Management are the latest to disclose that CFIUS may have an impact on their portfolio. Details and disclosures inside…
Uber ownership disclosure cites CFIUS approval
This week, the editors at Foreign Investment Watch came across a unique disclosure that may be one of the first of its kind. Details and the disclosure are inside …
CFIUS showing up in risk factors of disclosures
The editors of Foreign Investment Watch continue to see CFIUS appear in the “Risk Factors” sections of public company filings, particularly those focused on doing business with China. Example inside…
Lawsuit for non-disclosure of CFIUS notice
Included in the quarterly report of the $22 billion semiconductor firm Qualcomm was disclosure of a lawsuit related to CFIUS. Details and the full disclosure are inside…
CFIUS provisions in GM Cruise Automation disclosures
A recent SEC filing from GM Cruise, the self-driving car company, provides some interesting CFIUS disclosures and provisions. Details, excerpts, original filing, and appropriate contacts are inside.
Sprint CFIUS disclosure is old news
Sprint CEO Michel Combes announced CFIUS clearance for the merger with T-Mobile. The problem: That news is over a year old …
Up front “critical technologies” disclosure in M&A
An excerpt of a recent “critical technologies” disclosure, so you can see how companies are communicating risks (or lack thereof)….