Whether the secretive CFIUS is even considering this sale is unknown at the moment.
As it happened, CFIUS had been racked by dissension in the previous year or so.
As today's meeting of the CFIUS will underscore, there isn't a moment to lose.
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After examining a transaction, CFIUS makes a recommendation to the president to accept or reject the deal.
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CFIUS, as the group is known, has representatives from twelve different Cabinet departments and White House offices.
Attorneys representing Huawei submitted a CFIUS application for the 3Leaf deal late last week, company executives said.
The sale is subject to approval by the Committee on Foreign Investment in the United States (CFIUS).
Legislative proposals seeking to expand CFIUS to include purchasing agreements should receive thorough consideration by relevant Congressional committees.
The CFIUS gives the government the right to review transactions that could give foreign persons control over U.S. companies.
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The 33-year-old committee on foreign investment, CFIUS, is also refining its process for examining deals that might threaten security.
The CFIUS is an inter-agency committee and includes representatives from the Department of Justice and the Department of Homeland Security.
Finally, companies should not rely on the apparent lack of CFIUS objections in relation to other similar transactions as indicative.
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Under the new legislation, a high-ranking Treasury Department official must approve all transactions where CFIUS review is completed within 30 days.
When concerns are expressed about such implications, CFIUS has a 90-day period to examine the national security ramifications of such transactions.
Immediately upon divestment, Ralls shall certify in writing to CFIUS that such divestment has been effected in accordance with this order.
In 2008, CFIUS blocked the Chinese telecommunications firm and Bain Capital from acquiring U.S. electronics manufacturer 3Com due to national security concerns.
Ralls made the filing later that month, and in late July CFIUS ordered Ralls to cease construction and operations at the sites.
FORBES: If You Want to Buy an American Company, Ask Permission, Not Forgiveness
CFIUS, as the committee is known, is the federal panel charged with scrubbing foreign acquisitions of domestic assets for national security threats.
The safe harbor protections that accompany successful navigation of the CFIUS review process can provide an important boost to the value of the asset.
FORBES: If You Want to Buy an American Company, Ask Permission, Not Forgiveness
In fact, as of last summer, CFIUS had, since its creation in 1988, formally rejected only one of 1, 530 transactions submitted for its review.
This could be accomplished in one of three ways: He could reverse the decision himself (perhaps by directing CFIUS to reconsider its initial recommendation).
CFIUS's Order Establishing Interim Mitigation Measures of July 25, 2012, and Amended Order Establishing Interim Mitigation Measures of August 2, 2012, are hereby revoked.
An acquirer that obtains CFIUS approval can proceed to close the transaction knowing that a safe harbor provision usually protects it from future CFIUS actions.
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According to media reports, the news of the deal raised concerns within the Department of Defense, and Huawei was subsequently asked to file for CFIUS approval.
FORBES: If You Want to Buy an American Company, Ask Permission, Not Forgiveness
In June, after Ralls had begun construction of wind turbine foundations at several of the sites, CFIUS invited Ralls to submit a filing regarding the purchase.
FORBES: If You Want to Buy an American Company, Ask Permission, Not Forgiveness
Relative to the blizzard of legal work that accompanies most acquisitions, the additional burden to make a voluntary filing with CFIUS is likely to be relatively modest.
FORBES: If You Want to Buy an American Company, Ask Permission, Not Forgiveness
Within the last year, CFIUS's merger reviews have included the Alcatel-Lucent deal as well as the acquisition that created the oil and gas drilling company CGG Veritas.
"This was a difficult decision, however we have decided to accept the recommendation of CFIUS to withdraw our application to acquire specific assets of 3Leaf, " the company said.
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By mid-January, a poll had been taken of all the government agencies involved in CFIUS, and the decision was unanimous: The deal should be allowed to go forward.
Thus, if there is any possible national security implication, however slight, a foreign acquirer would be well advised to make CFIUS approval a condition of closing the deal.
FORBES: If You Want to Buy an American Company, Ask Permission, Not Forgiveness
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