On May 22, the Senate Banking Committee and House Financial Services Committee are each expected to consider and approve similar but not identical pieces of legislation to modernize the jurisdiction and operation of the Committee on Financial Investment in the United States (CFIUS). CFIUS is a federal interagency committee that presently reviews and must approve “any merger, acquisition, or takeover . . . by or with any foreign person which could result in foreign control” over a United States business.
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