United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2002-09-12 monographic deposited born digital GA 1.13:GAO-02-736 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-02-736 P0b002ee18039052b f:d02736 DGPO 2010-08-12 2011-03-24 GAOREPORTS-GAO-02-736 machine generated eng fdlp REPORT GAOREPORTS-GAO-02-736 GAO-02-736 Foreign corporations Corporate mergers Defense industry International economic relations Foreign investments in US DOT Maritime Security Program Other Written Product A05145

The Exon-Florio amendment to the Defense Production Act authorizes the President to suspend or prohibit foreign acquisitions, mergers, or takeovers of U.S. companies if (1) there is credible evidence that a foreign controlling interest might threaten national security and (2) legislation, other than Exon-Florio and the International Emergency Economic Powers Act, does not adequately or appropriately protect national security. The President delegated the authority to review foreign acquisitions of U.S. companies to an interagency group, the Committee on Foreign Investment in the United States. The Committee initiates investigations only when it cannot identify potential mitigation measures in the review period to resolve national security issues arising from the acquisitions or when it needs time beyond the 30-day review to negotiate potential mitigation measures and the companies involved are not willing to request withdrawal of their notification. The Committee's process for implementing Exon-Florio contains the following weaknesses that may have limited effectiveness: (1) the Committee has not established interim protections before allowing withdrawal when concerns were raised and the acquisition had already been completed (2) agreements between the Committee and companies contained nonspecific language that may make them difficult to implement and (3) agreements did not specify responsibility for overseeing implementation and contained few provisions to assist in monitoring compliance. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-02-736/html/GAOREPORTS-GAO-02-736.htm GAO-02-736 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-02-736 Other Written Product GAO-02-736; Defense Trade: Mitigating National Security Concerns under Exon-Florio Could Be Improved; Foreign corporations Corporate mergers Defense industry International economic relations Foreign investments in US DOT Maritime Security Program Title 15 Section 78b 15 U.S.C. 78b Title 50 Section 1701 Title 50 Section 1702 Title 50 Appendix 2170 50 U.S.C. 1701 50 U.S.C. 1702 50 U.S.C. App. 2170 Public Law 102-484