The Committee on Foreign Investment in the United States, a U.S. government committee which assesses the potential effect of foreign investment on that country's security, has given its approval for the proposed purchase of the Swiss seed and chemical manufacturer Syngenta by China National Chemical Corp., also known as ChemChina.
Coverage:
Previously:
ChemChina to Purchase Syngenta For $43 Billion in China's Largest Foreign Acquisition
(Score: 0) by Anonymous Coward on Thursday August 25 2016, @11:02PM
I was going to give a pithy "well, 51% ownership by a US company" or something like that... but a quick online search came up with nothing. So great question... why does the US regulators have any say in this? The only thing I can think of is if they threaten to stop the company from selling to the US entirely, but that doesn't seem to be what is happening.
(Score: 1) by Francis on Friday August 26 2016, @04:51AM
If they're wanting to do business in the US, then they need US regulatory approval. Being outside the US does not exempt corporations from antitrust laws for anything they do within the US.
That being said, let's be honest, this is a rubber stamp. Worst case scenario they'll have to make promises to sweeten the deal and after the deal is approved they just don't follow through on any of it. It's not like those promises have ever been stuck to by other corporations.