Chinese companies have overtaken U.K. firms for the first time in the number of transactions reviewed by a U.S. government committee for national security concerns as they increasingly hunt for American deals.
There were 23 proposed transactions involving Chinese investors that were reviewed by the Committee on Foreign Investment in the United States (CFIUS) in 2012, compared with 10 deals in 2011. The U.K. was trailing with 17 deals in 2012, according to the group's 2012 report to Congress.
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CFIUS is made up of various U.S. agencies, including the Defense Department, and is overseen by the Treasury Department. Cases under review by CFIUS, which examines deals that result in the change of control of a U.S. company, are confidential.