![]() Nationality does not determine outcome.Nevertheless, as the body of published cases expands and some insight on current and recent cases becomes available in the legal press, the following key takeaways on the enforcement have emerged: This somewhat limits predictability and certainty. Also, compared to merger control decisions, final decisions that are published are scant as the government provides no reasoning for its decision. 3 Clearances and other procedural decisions are not published (see also our previous Advisory). Publication of NSIA decisions are limited to final orders imposing conditions, unwinding, or blocking a transaction. 2 The decision was adopted in the same week that BEIS accepted undertakings by US-listed Parker-Hannifin in respect of its acquisition of Meggitt. Interestingly, this did not involve a share acquisition of a company (which would have required a mandatory pre-notification), but a licensing arrangement concerning sensitive technology which was notified voluntarily. The prohibited transaction involved the acquisition by Chinese company Beijing Infinite Vision Technology of IP developed and owned by the University of Manchester. In this advisory we take stock of the emerging practice and outline key takeaways for businesses, including US transaction parties, involved in acquisitions in and outside of the UK. 1 In other cases where the government has intervened so far enforcement action involved imposing conditions on the acquirer. ![]() ![]() On 20 July, the UK government prohibited for the first time a transaction under the new National Security and Investment Act 2021 (“NSIA”).
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