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US Treasury to report on foreign takeover bids
WASHINGTON - The US Treasury Department will report to Congress by the end of February whether it thinks any foreign interests are trying to acquire US companies that possess critical technologies needed for national defence.The White House announced on Friday the Treasury will do the study, required under the Defence Production Act, and said it will be submitted to Congress in both classified and unclassified versions. The unclassified version is to be made public. A White House official said the report, officially titled Report to Congress on Foreign Acquisition of and Espionage Activities Against US Critical Technology Companies, was last submitted to Congress in 1994. The issue of why the report had not been seen since then arose earlier this year amid a controversy over Dubai Ports World taking over management of six major US ports by acquiring Britains Peninsular & Oriental Steam Navigation Co. Posted by: Steve White 2006-12-30 |
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