Global Competition Review Speaks With John Schmidt On U.S. Investor’s Acquisition of UK Nuclear Company

Partner John Schmidt, who leads the firm's UK Competition team in London, was quoted in the Global Competition Review article, "U.S. investor's buy of UK nuclear company draws national security condition." The article covers the Chancellor of the Duchy of Lancaster issuing a final order under the UK National Security and Investment Act requiring a North Carolina-based aerospace and defense company to retain one of a UK nuclear company's facilities in the UK. According to the Chancellor, such an acquisition will ensure continued support for UK defense programs and will mitigate national security concerns about relocating the nuclear company's operations.

Schmidt said a remedy such as the one in this case is a regular feature on sensitive deals in the defense sector, even if the purchaser is from an allied country and a NATO member.

Read the full article (subscription required).