Page 60 - The CFIUS Book
P. 60
THE CFIUS BOOK
proposed transactions prior to reaching presidential review. More recently, three CFIUS transactions have reached presidential review:
l In December 2016, President Obama reviewed and blocked the proposed acquisition of the U.S. subsidiary of a German semiconductor maker by a Chinese-controlled investment firm.
l In September 2017, President Trump reviewed and blocked the proposed 1.3 billion dollar acquisition of a semiconductor chipmaker by a U.S. private equity firm reportedly owned and controlled by the Chinese government.
l InMarch2018,PresidentTrumpblockedSingapore-basedBroadcom’spotential acquisition of U.S.-based chipmaker Qualcomm (via a proxy contest for control of the Qualcomm board). This decision was unique in many respects, particularly because of the President’s willingness to intervene in the proxy contest for a public company prior to any formal transaction being finalized and submitted to CFIUS.
60
