As mergers and acquisitions in the United States continue at a quickening pace, legislation is urgently needed to make regulators aware of any Chinese Communist Party (CCP) influence or control over foreign firms merging with U.S. companies, U.S. Reps. Scott Fitzgerald (R-Wis.) and Greg Stanton (D-Ariz.) said on Feb. 11.
The two congressmen are championing the Foreign Merger Subsidy Disclosure Act of 2021, which Fitzgerald, a Republican, officially introduced in October 2021. The measure would require any company seeking to merge with U.S. firms to disclose to U.S. antitrust regulators whether it has received financial support or subsidies from a foreign government.
