U.S. Treasury Clears Toshiba-Westinghouse Deal

Law360, New York (June 5, 2006, 12:00 AM EDT) -- An embattled U.S. foreign investment committee has cleared the way for Japanese electronics manufacturer Toshiba Corp. to claim a major stake in Westinghouse, the U.S. power plant unit of British Nuclear Fuels PLC, in a move that could lead to the formation of the world’s largest nuclear reactor maker.

The Committee on Foreign Investment in the United States (CFIUS), which drew fire this year after initially approving a takeover of U.S. terminal ports by a Dubai-owned company, concluded that “issues of concern” over the takeover have...
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