McGuireWoods London partner Matthew Hall provided comments for a Jan. 14, 2022, Compliance Week article analyzing problems the new UK National Security and Investment Act might present for companies seeking to merge with or acquire businesses or assets that have a connection with the UK.
The NSI Act, which went into full effect Jan. 4, puts under scrutiny mergers and acquisitions involving companies or assets that could endanger the UK economy and areas of national security. According to the article, opponents express concerns that the new law grants the UK government significantly more power in its oversight of M&A and other deals.
For the article, Hall noted that the requirements of the NSI Act apply regardless of the nationality of the acquiring company. While deals finalized before Nov. 12, 2020, are exempt, the law sets no minimum turnover or deal-size threshold for this expanded governmental scrutiny.
Hall, who is licensed to practice law in the UK as well as the EU, is a member of McGuireWoods’ antitrust, trade and commercial litigation practice.