US toughens stance on foreign deals in blow to China’s buying spree

Waiting approval: A mascot of Ant Financial is seen at its office in Hangzhou. A number of companies have said that their deals are before CFIUS and they include Ant Financial’s acquisition of MoneyGram.

A SECRETIVE US government panel has objected to at least nine acquisitions of US companies by foreign buyers so far this year, people familiar with the matter said, a historically high number that bodes poorly for China’s overseas buying spree.

The objections indicate that the Committee on Foreign Investment in the United States (CFIUS), which reviews acquisitions by foreign entities for potential national security risks, is becoming more risk-averse under US President Donald Trump.