- IBM (NYSE:IBM) sent a letter to Congressional sponsors of bills seeking to tighten foreign investment rules due to concerns about China’s military and potential IP theft.
- Reuters saw the letter, which was dated November 9 and urges the use a different strategy.
- The company says the current bills would inappropriately expand the role of the Committee on Foreign Investment in the U.S. or CFIUS and make it more difficult for American businesses to do business overseas.
- The bills would expand the number of cases the CFIUS considers and would add security screening to its job such as determining whether American citizen data would become vulnerable in a deal.
- The CFIUS recently recommended that President Trump block the sale of American company Lattice Semiconductor to China-backed firm Canyon Bridge on fears the company’s tech could benefit the Chinese military. President Trump followed the recommendation.
- Previously: Trump blocks Chinese semiconductor acquisition (Sept. 13)
- Previously: Lattice Semiconductor seeking Trump's direct approval for acquisition (Sept. 1)
- Now read: IBM: It's Still About The Compelling Valuation
Original article