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Congress Introduces Bill to Expand CFIUS’s Review Authority

A bipartisan group of U.S. lawmakers introduced identical bills in the House and Senate on Wednesday to broaden the authority of the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”), an interagency committee that reviews foreign investments in U.S. companies, to determine whether such investments pose a risk to national security. The proposed bill, called the Foreign Investment Risk Review Modernization Act (“FIRRMA”), would broaden CFIUS’s jurisdiction to include review of certain joint ventures and minority investments, and represents the most significant effort to revise the CFIUS process since the passage of the Foreign Investment and National Security Act of 2007.

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The Ropes Recap: Mergers & Acquisition Law News

Practices: Mergers & Acquisitions

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Linked is the First Quarter 2016 edition of the Ropes & Gray M&A Newsletter. Topics addressed in this edition include:

News from the Courts

  • Court of Chancery Applies Entire Fairness Standard to Commercial Arrangement with Controlling Stockholder
  • Delaware Court Affirms that Entire Fairness is Operative Standard of Review for Controlling Stockholder Transaction that Did Not Satisfy MFW Factors
  • Court of Chancery Requires Affirmative Contractual Statement by Buyer Disclaiming Reliance on Extra-Contractual Representations in Context of a Merger Agreement to Bar Buyer’s Claim
  • Court of Chancery Applies Different Levels of Judicial Scrutiny to Different Actions Taken by Board in Response to Activist Stockholder
  • Court of Chancery Provides Guidance as to Information Demands by Corporate Stockholders and LLC Members/Managers
  • Delaware Court Continues to Scrutinize Disclosure-Only Settlement Cases
  • Federal Court Rejects Disclosure Claim Concerning Financial Advisor’s Premiums Paid Analysis
UK Updates

Asia Updates

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