National Security Implications of Corporate Transactions in Cross-Border M&amp;A

doi:https://academic.oup.com/edited-volume/59925/chapter/520283156

Scholarship

National Security Implications of Corporate Transactions in Cross-Border M&A

Co-author(s)

Cathy Hwang ,

Steven Davidoff Solomon

Publisher

Oxford University Press

Date

2026-5-22

Website DOI

This chapter examines national security implications in cross-border mergers and acquisitions (M&A) transactions. It details the rise in prominence of national security issues and regulations across multiple jurisdictions and the way that these new rules and approaches are reshaping and restricting cross-border M&A. It begins by detailing the rise and expansion of national security regimes in the United States through a review process led by the Committee on Foreign Investment in the United States. It then details the implementation of similar formal and informal regimes in other jurisdictions, including Australia, China, the European Union, and the United Kingdom. It concludes by theorizing that emerging and differential approaches to national security in various jurisdictions are likely to reshape the economics of M&A transactions, delimit investment among nations and become the primary force regulating cross-border M&A transactions. These current national security review landscape also highlights the interaction between law and politics, and how national security exceptionalism has created an alternative and multi-dimensional regulatory regime outside of existing regulatory oversight in M&A.

Citation

Cathy Hwang & Steven Davidoff Solomon, National Security Implications of Corporate Transactions in Cross-Border M&A, in Oxford Handbook of Corporate Governance, Oxford University Press (2 ed. 2026).