Lawmakers Seek to Track Chinese Money in Mergers With US Companies

Lawmakers Seek to Track Chinese Money in Mergers With US Companies
Then-Wisconsin Senate Majority Leader Sen. Scott Fitzgerald (R-Juneau), calls for session to end as State Sen. Leah Vukmir (R-Brookfield) looks on during a contentious legislative session on Dec. 4, 2018, in Madison, Wis. Andy Manis/Getty Images
Michael Washburn
Updated:
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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.

Michael Washburn
Michael Washburn
Reporter
Michael Washburn is a New York-based reporter who covers U.S. and China-related topics for The Epoch Times. He has a background in legal and financial journalism, and also writes about arts and culture. Additionally, he is the host of the weekly podcast Reading the Globe. His books include “The Uprooted and Other Stories,” “When We're Grownups,” and “Stranger, Stranger.”
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