Gibson, Dunn & Crutcher's lawyers routinely handle complex cross-border investment transactions, and have considerable expertise in U.S. regulation of foreign investment, including Exon-Florio reviews before the inter-agency Committee on Foreign Investment in the United States (CFIUS). We advise both acquiring companies and targets in evaluating the potential benefits of a voluntary CFIUS filing, and counsel clients during all aspects of the CFIUS process, from the "pre-filing" notification to the closing letter.
Complementary to its CFIUS practice, Gibson Dunn offers industry-leading capabilities through practice groups in Government Contracts, Antitrust and Competition, Mergers and Acquisitions, Tax, Global Finance, Energy and Infrastructure, and Public Policy. These combined strengths uniquely position our firm to provide CFIUS advice that is seamlessly integrated into the entire acquisition or sale transaction. Because CFIUS is an inter-agency entity, parties must be prepared to navigate issues that might be raised from a wide variety of governmental stakeholders. Under the CFIUS umbrella, government interest items may include, among others, issues related to the National Industrial Security Program (NISP) such as developing a FOCI (Foreign Ownership, Control or Influence) action plan acceptable to the Department of Defense, and other agencies' regulatory requirements, such as those of the Federal Energy Regulatory Commission (FERC). CFIUS parties may even be required to work with the U.S. Congress in particularly sensitive, high-stakes matters.
Navigating Foreign Boycotts
U.S. tax and export administration laws also penalize or restrict compliance by U.S. companies with foreign boycotts. U.S. and multinational companies, especially those doing business in the Middle East, confront a conflicting array of local laws requiring compliance with boycott requirements and U.S. laws prohibiting or limiting compliance and imposing significant reporting obligations. Our practice group advises on the establishment and maintenance of compliance programs and the analysis and resolution of the conflicting requirements of U.S. and local boycott laws. We also represent clients in the resolution of antiboycott issues before the U.S. Internal Revenue Service and the Department of Commerce's Office of Antiboycott Compliance.