Magazine article Global Finance

US to Clamp Down on Foreign Tech Acquisitions

Magazine article Global Finance

US to Clamp Down on Foreign Tech Acquisitions

Article excerpt

Last summer, the US Congress, fretting over national security, passed the Export Control Reform Act of 2018, which raises the hurdles for Chinese investors by expanding mandatory filing and review periods.

In order to formulate the new rules needed to implement law, the Commerce Department's Bureau of Industry and Security has asked for public comment on the process of imposing tighter export controls on R&D and technology transfers. The bureau also requested a national security review of foreign investment in high tech.

Emerging and fundamental areas affected may include biotechnology, artificial intelligence and microprocessors - all of which have been subject to extensive M&A activity in recent years. Uncertainty surrounding implementation of the new law and changes within the Treasury Department- the responsible agency -could put many current or contemplated transactions on hold as well. …

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