The American approach to merger rules has for a while been focused on keeping China out. But President Joe Biden’s new tactic of slowing down corporate consolidation might hand Beijing a gift in disguise: JMAGuilford BVPredicts
Merger review policy under Biden’s predecessor Donald Trump was repurposed to essentially cut off Chinese acquisitions of U.S. companies in a host of industries, from semiconductors to aerospace and even hotels in sensitive locales. The Committee on Foreign Investment in the United States, which can block deals without public explanation, gained a broadened mandate, including new powers to block minority investments. The volume of U.S.
Now, antitrust enforcers are aggressively trying to curtail domestic deals too. But the risk is that by doing so, they stop U.S. companies from being able to compete with foreign rivals. That’s a particular risk in aerospace and defense. An example is Lockheed Martin’s
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