A123, Wanxiang Deal Raises Security Concerns, Geithner Told

Law360, New York (November 2, 2012, 2:23 PM EDT) -- Two Republican senators on Thursday asked U.S. Treasury Secretary Timothy Geithner to review China's Wanxiang Group Corp.'s proposed acquisition of the bankrupt government-funded battery maker A123 Systems Inc., saying Wanxiang's interest in the company raises national security concerns and may shortchange American taxpayers. 

Wanxiang's bid to become the stalking horse bidder in A123's bankruptcy and its recent offer of a $50 million debtor-in-possession loan to the company should raise flags in the Treasury's Committee on Foreign Investment in the United States, especially since A123 has received several...
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