Foreign Takeover Review Process May Get Makeover

Law360, New York (May 14, 2007, 12:00 AM EDT) -- Two senators are set to introduce bipartisan legislation meant to revamp how a U.S. foreign investment committee reviews foreign takeovers of U.S. companies.

Sen. Chris Dodd (D-Conn.), and Sen. Richard Shelby (R-Ala.) said on Thursday that they would offer a bipartisan measure to reform the Committee on Foreign Investment in the United States, which reviews foreign transactions based on national security matters.

The legislation will be marked up this week in the Banking Committee, the senators said.

Dodd, who is chairman of the Senate Committee on...
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