Partner David Plotinsky was quoted in an S&P Global article discussing the rare provision in the merger agreement between Nippon Steel and US Steel, in which the US government will receive a special “golden share” granting it certain control rights in the company.
“It is not normal for the government to get shares in companies it reviews including through a golden share,” David said.
He added that he was not aware of a case before the Committee on Foreign Investment in the United States (CFIUS) requiring capital expenditures as part of the mitigation terms, adding, “I think the question for investors and for US companies that might need the foreign investment is: Is that going to become part of the CFIUS playbook?”