Timothy O'Toole Comments on Kunlun's Failure to Clear Acquisition with CFIUS in WIRED
"U.S. is Forcing a Chinese Firm to Sell Gay Dating App Grindr"
Timothy O'Toole commented on reports that Beijing Kunlun Tech (Kunlun) did not clear its acquisition of the dating app Grindr with the Committee on Foreign Investment in the United States (CFIUS) prior to purchasing the company in 2018, and is now seeking to sell the company. O'Toole said that although CFIUS forcing companies to unwind a completed deal is unusual, it's not unheard of. What's more surprising, he said, is that Kunlun apparently didn't try to clear the deal with CFIUS in advance. "I think it may be the start of a trend," O'Toole added. "As more high-profile deals come to light, I think we'll see the committee reaching back to undo deals more often."