Cfius has grown more powerful since
Posted: Mon May 09, 2016 11:40 pm
“It ain’t going to happen,” was the word from Gregory Hayes, the United Technologies chief executive, in a CNBC interview on Tuesday. “There is just no way to get it done.”
Yet Honeywell continues to view the antitrust issue differently. Its advisers calculated that less than 5 percent of the companies’ target sales overlap, according to a person briefed on the company’s thinking.
Although the combined company would have a market value of just under $160 billion, it would still be considerably smaller than its major competitor, General Electric.
The executives of the two companies had held discussions for months about how to pull off a Nike Air Max 2015 Womens merger, but changes in their fortunes appeared to scuttle their talks. Each company wanted its chief executive to run the combined business and, in 2015, shares in United Technologies fell 30 percent, making it smaller than Honeywell by market value, even though its sales were 44 percent higher.
Still, the biggest stated objection is the regulatory issue. Nike Free Run 3 Femme Analysts think regulators could object to combining the companies’ jet component operations and the fire and security divisions. There is also the question of whether their biggest customers, Boeing and Airbus, would tolerate a merger of such central suppliers.
CHINA FEELS THE CHILL | Chinese companies are on the hunt for deals abroad as growth slows at home and as they are increasingly running smack into the American national security apparatus,The latest deal to feel the chill from Washington was a $3.78 billion investment in the Nike Free 5.0 Womens American hard disk drive maker Western Digital by the Tsinghua Unisplendour Corporation of China. Tsinghua said on Tuesday that it was abandoning its purchase of a 15 percent stake in Western Digital, citing a decision by the Committee on Foreign Investment in the United States to review the deal.
The Adidas Superstar Homme committee, known as Cfius, goes back to the Exon-Florio amendment of 1988. The fears then over Japanese acquisitions in the United States left a legacy in films like “Rising Sun,” a tale of Japanese corporate corruption, and “Gung Ho,” a comedy in which Michael Keaton played an executive at a car plant struggling under Japanese ownership.
Cfius has grown more powerful since, but it remains a secretive interagency body. All its filings are confidential, it doesn’t have a building in Washington and it lags an entire year in reporting figures.
Once a filing is made, the committee can decide to do nothing or investigate to see whether the deal poses a national security problem. There was also a record number of investigations in 2014 — over a third of the deals were investigated.
If Cfius finds an issue with a deal, it will make a Nike Air Huarache Donne recommendation to the president, who can then block it. But it rarely gets that far, since the acquirer typically withdraws once Cfius indicates that it will recommend against the transaction, wanting to avoid the public stain of presidential action.
Yet Honeywell continues to view the antitrust issue differently. Its advisers calculated that less than 5 percent of the companies’ target sales overlap, according to a person briefed on the company’s thinking.
Although the combined company would have a market value of just under $160 billion, it would still be considerably smaller than its major competitor, General Electric.
The executives of the two companies had held discussions for months about how to pull off a Nike Air Max 2015 Womens merger, but changes in their fortunes appeared to scuttle their talks. Each company wanted its chief executive to run the combined business and, in 2015, shares in United Technologies fell 30 percent, making it smaller than Honeywell by market value, even though its sales were 44 percent higher.
Still, the biggest stated objection is the regulatory issue. Nike Free Run 3 Femme Analysts think regulators could object to combining the companies’ jet component operations and the fire and security divisions. There is also the question of whether their biggest customers, Boeing and Airbus, would tolerate a merger of such central suppliers.
CHINA FEELS THE CHILL | Chinese companies are on the hunt for deals abroad as growth slows at home and as they are increasingly running smack into the American national security apparatus,The latest deal to feel the chill from Washington was a $3.78 billion investment in the Nike Free 5.0 Womens American hard disk drive maker Western Digital by the Tsinghua Unisplendour Corporation of China. Tsinghua said on Tuesday that it was abandoning its purchase of a 15 percent stake in Western Digital, citing a decision by the Committee on Foreign Investment in the United States to review the deal.
The Adidas Superstar Homme committee, known as Cfius, goes back to the Exon-Florio amendment of 1988. The fears then over Japanese acquisitions in the United States left a legacy in films like “Rising Sun,” a tale of Japanese corporate corruption, and “Gung Ho,” a comedy in which Michael Keaton played an executive at a car plant struggling under Japanese ownership.
Cfius has grown more powerful since, but it remains a secretive interagency body. All its filings are confidential, it doesn’t have a building in Washington and it lags an entire year in reporting figures.
Once a filing is made, the committee can decide to do nothing or investigate to see whether the deal poses a national security problem. There was also a record number of investigations in 2014 — over a third of the deals were investigated.
If Cfius finds an issue with a deal, it will make a Nike Air Huarache Donne recommendation to the president, who can then block it. But it rarely gets that far, since the acquirer typically withdraws once Cfius indicates that it will recommend against the transaction, wanting to avoid the public stain of presidential action.