WHAT: Press briefing on a new study by United States Council
Foundation: "Investment Subsidies for Cross-Border M&A: Trends and
Policy Implications"
WHO: Dr. Gary Hufbauer, senior fellow, Peterson Institute for
International Economics
WHEN: Thursday, April 10, 2008
9:00 - 10:00 a.m.
WHERE: National Press Club
Lisagor Room
529 14th Street, N.W.
Washington, D.C.
MEDIA: RSVP STRONGLY ENCOURAGED BY 2 P.M., WEDNESDAY, APRIL 9
Contact: Jonathan Huneke, United States Council for
International Business
+1 212-703-5043 (office), +1 917 420-0039 (mobile),jhuneke@uscib.org
Embargoed advance copies of the study are available upon request
With international rules to ensure the transparency of sovereign wealth
funds in the works, the attention of policy makers is likely to turn to a
related, but under-appreciated, issue: subsidized foreign takeovers of U.S.
companies. What are the implications when a foreign company, backed by
financial support from its home government, purchases a U.S. firm? And
what actions should be taken to ensure a level playing field while
maintaining fundamental market openness?
A new study from the United States Council Foundation, the research and
educational arm of the United States Council for International Business
(USCIB), investigates several recent cases of subsidized finance in
cross-border M&A transactions, and suggests corrective measures that should
be taken to head off the possibility of protectionist overreaction to
subsidized investments. The paper is authored by Gary Hufbauer and Thomas
Moll of the Peterson Institute for International Economic, and Luca Rubini
of the Birmingham Law School (UK).
The United States Council Foundation is a private 501(c)(3) organization
affiliated with USCIB. It was organized to undertake educational
activities to promote the benefits of a free market economy, to demonstrate
and document the role of the corporate private sector in economic growth
and social development, and to advance sustainability in environmental
management. More information is available at www.uscouncilfoundation.org.
USCIB promotes an open system of global commerce. Its membership includes
more than 300 leading U.S. companies, professional services firms and
associations whose combined annual revenues exceed $3.5 trillion. As
American affiliate of the leading international business and employers'
organizations, USCIB provides business views to policy makers and
regulatory authorities worldwide and works to facilitate international
trade. More information is available at www.uscib.org.
Contact Information: Contact: Jonathan Huneke United States Council for International Business +1 212-703-5043 (office) +1 917 420-0039 (mobile)