When it was announced in early 2006 that Dubai Ports World, a company controlled by the Government of Dubai, planned to acquire six major U.S. ports and had successfully undergone the U.S. government's national security review of the transaction, concerns about foreign ownership of U.S. assets intensified dramatically.
Securing U.S. Strategic Assets: Does The Exon-Florio Statute Do Its Job?
When it was announced in early 2006 that Dubai Ports World, a company controlled by the Government of Dubai, planned to acquire six major U.S. ports and had successfully undergone the U.S. government's national security review of the transaction, concerns about foreign ownership of U.S. assets intensified dramatically. A new wave of criticism arose, revitalizing arguments that had temporarily subsided when the China National Offshore Oil Corporation (CNOOC) (a Chinese Government-controlled company) withdrew its bid to acquire California-based Unocal Corporation in the summer of 2005. Now, it appears that there is great momentum behind proposals to adopt new means to prevent ' or at least to screen ' such proposed acquisitions by foreign companies, particularly foreign government-owned companies.
By
Ronald D. Lee And Nancy L. PerkinsThis premium content is locked for LawJournalNewsletters subscribers only
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