Report: U.S. to Approve Sale of Aegis Ships to Taiwan
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The United States will announce the sale  of four Aegis missile-defense warships to Taiwan next year with  delivery likely to begin in 2011, a newspaper said on Monday.
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Bain Capital, a U.S. equity investment firm, declined to comment Wednesday on news reports that a U.S. government panel reviewing a proposed acquisition of networking vendor 3Com plans to extend its review.Bain would get an 83.5 percent stake in 3Com, and Chinese networking giant Huawei Technologies would get the remaining piece in the $2.2 billion deal. The Committee on Foreign Investment in the United States (CFIUS), part of the U.S. Department of Treasury, is investigating whether the investment by Huawei poses a risk to U.S. national security after Bain voluntarily submitted the deal for review in October.Normally, a CFIUS review runs for 30 days, but the interagency committee can take another 45 days. The Financial Times on Tuesday reported that CFIUS this week would likely take the additional time.A Bain spokesman declined to comment on the news report Wednesday, saying the CFIUS review was a &quot;confidential process.&quot;&quot;Bain Capital is working closely with CFIUS to provide U.S. officials with information about the proposed transaction,&quot; the company said in a statement. &quot;As stated previously, we believe CFIUS will conclude that the company will remain firmly in the control of an American firm, has only a small minority foreign shareholder, and that the deal presents no risks to national security.&quot;Some critics have disagreed. U.S. Rep. Thaddeus McCotter, a Michigan Republican, has called on CFIUS to reject the deal. Huawei&#39;s take in 3Com, which markets intrusion detection systems, would &quot;gravely compromise&quot; U.S. national security, he said in a House floor speech in October.The U.S. Department of Defense uses 3Com intrusion detection products, and Chinese hackers have targeted the agency, McCotter said. &quot;Given this and other instances of communist China&#39;s persistent cyber warfare against us, approving this sale would be an abject abdication of CIFUS&#39; duty to protect America&#39;s vital defense technologies from enemy acquisition,&quot; he said.
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U.S. telephone carrier Verizon  Communications Inc. is set to sign an agreement as early as  Monday with five Asian telecoms companies to build the first  high-speed, transpacific undersea cable system directly linking  the United States and China, the Wall Street Journal reported  on its Web site on Monday.
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European plane maker Airbus  plans to agree in the coming week to sell four of its European factories to U.S. group Spirit AeroSystems Holdings , a German newspaper reported on Saturday.
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An investment group is expected to  announce Monday that it has struck a deal to buy British water  utility AWG PLC  for about $4.12 billion (2.2 billion  pounds, a source familiar with the situation told Reuters on  Sunday.
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An Irish company has been linked with a controversial multi-million euro arms sale to war-torn Sudan in a report to be published today.
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U.S. antitrust authorities said on   Tuesday they had approved plans by Lockheed Martin Corp.   LMT.N to buy privately held military support and training   company Pacific Architects and Engineers Inc.
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TAIPEI, Taiwan -- A proposed $18.2 billion purchase of U.S. weapons by Taiwan has bogged down in the island's hard-fought electoral politics despite repeated warnings from the Bush administration that the new arms are imperative to bolster defenses against China.
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WASHINGTON -- Dubai Ports World warned Thursday that its deal to sell off major port operations in six U.S. cities may fall apart if the Port Authority of New York and New Jersey doesn't drop demands for a multimillion-dollar payment.
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Between five and eight U.S.  companies are vying for the U.S. port assets of Dubai Ports  World in a second round of the sales process, the official  overseeing the sale said in a letter to U.S. lawmakers obtained  by Reuters on Friday.
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The U.S. Commerce Department could  change proposed export controls aimed at making it harder for  China to modernize its military, but has no intention of  scrapping the plan, a U.S. official said on Thursday.
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The pending sale of International Business Machines Corp.'s personal-computer business to a Chinese company will be investigated by the Bush administration to determine whether the deal threatens national security, according to administration and congressional sources.
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Exelon Corp. and Public Service Enterprise Group Inc. plan to sell some power plants and nuclear power capacity to get regulatory approval of the companies' proposed merger, officials from the utilities said Friday.
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(InfoWorld) - A major Taiwanese maker of satellite radios and components stands to benefit from theÂ proposed mergerÂ between two U.S. companies, Sirius Satellite RadioÂ and XM Satellite Radio Holdings, lifting its stock higher in Taipei on Monday. Wistron Neweb Corp. (WNC), one of many spin-offs from the Acer Group when it reorganized several years ago, could grab new orders for its satellite-related components and gear if the Sirius and XM merger is approved, according to Goldman Sachs (Asia). The company may have to wait for good news, however, as the investment banker sees a long road ahead for regulatory approval of the merger. "We believe it would be a big bonus to WNC in the long-term if the merger of Sirius and XM happens, given that Sirius is likely to take the lead on procurement. However, we believe it may not occur in the near term," Goldman Sachs technology analyst Henry King said in a report Monday. Regulatory approval for the proposed deal, valued at $13 billion, could take until the end of this year, he said. Even if a deal is pushed through, it could take as long as until the second half of 2008 for the companies to consolidate their businesses and start ordering gear from a single supplier. Currently, WNC competes with several Taiwanese and South Korean rivals. WNC has long supplied Sirius with satellite radios, and the U.S. company's success has helped boost WNC's shares on the Taiwan Stock Exchange. News of the merger sent WNC shares up NT$2.70, or 3.1 percent, to NT$91.10 (US$2.75) on the TSE Monday, the first day trading resumed after the long Lunar New Year holiday. The main index of the exchange, the TAIEX, rose 1.2 percent on the day. Many Taiwanese factories fill orders for U.S. companies, and often benefit when certain products become popular. For example, Inventec Appliances, which makes some iPod models for Apple, saw its share price rise 30 percent on the day of its initial public offering a year and a half ago because of the popularity of the digital music player and hopes it would continue to gain followers. It was the biggest one-day rise for an initial offering in the market's history. Sirius and XM claim total subscribers of around 13.6 million, 6 million for Sirius and 7.6 million for XM. Â
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BusinessWeek Online - When it comes to the balance of power in East Asia, American strategic planners have had one particular nightmare: If the Chinese military could acquire sophisticated defense hardware and military systems from the European Union, Beijing could get a substantial assist in a possible confrontation with Taiwan. So last December, when European leaders announced they would seek to end a 15-year ban on weapons sales to China, Washington was quick to voice its displeasure. Pentagon officials talked darkly about restricting European access to sensitive U.S. ...
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The Bush administration proposed to  sell Canada 2,600 anti-armor guided missiles and 400 "Bunker  Buster" missiles built by Raytheon Co., the Pentagon told  Congress Thursday.
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To: AND LEGAL AFFAIRS EDITORS  Contact: U.S. Department of Justice, +1-202-514-2007, TDD: +1- 202-514-1888   WASHINGTON, June 20 /PRNewswire-USNewswire/ -- Overseas Shipholding Group Inc.