The Trump administration is so alarmed that Chinese investors may try to purchase Westinghouse Electric Co.’s nuclear business that U.S. officials are trying to find an American or allied buyer for the company instead, Bloomberg News reported yesterday. Cabinet members including Energy Secretary Rick Perry and Treasury Secretary Steven Mnuchin have discussed preventing Westinghouse’s purchase by a Chinese-linked company, three U.S. officials said. Westinghouse filed for chapter 11 protection on March 29 and its parent company Toshiba Corp. is seeking a buyer for its money-losing reactor business. Administration officials so far have examined three potential courses to keep Westinghouse out of Chinese hands. The government might block a sale to a Chinese buyer; encourage an alternative bid from U.S. or friendly foreign investors; or the government might invest in the company directly in return for an equity stake, akin to the Obama administration bailout of U.S. automakers.
