The controversy over United Arab Emirates-controlled DP World’s planned acquisition of six U.S. ports has prompted a key lawmaker in the House of Representatives to prepare legislation that would expand the regulatory inspection process for U.S.-foreign deals.
“Our government review process for these kinds of mergers no longer serves the national interest,” said House Small Business Committee Chairman Don Manzullo in an interview with The Deal. The Illinois Republican’s bill would bring major changes to the interagency Committee on Foreign Investments in the United States, a multi-agency panel that investigates the national-security implications arising from foreign acquisitions of U.S. assets.
