Harpoon's acquisition of GNC U.S. Senators calls for a national security review

On September 10, U.S. Senator Marco Rubio called for a national security review of the group's plan to buy the Chinese GNC, Reuters reported.
letter to Treasury Secretary Mnuchin, Rubio asked the CfIUS to conduct a full review of the acquisition of GNC.
CFIUS is part of the U.S. Treasury Department and was established in 1988 to protect national security and focus on foreign investment approval systems.
GNC have sensitive data? As a major U.S. health and nutrition chain, GNC has more than 5,200 retail stores and a large customer base in the United States.
In response, Rubio said China was looking for sensitive data about Americans by various means and that GNC data was valuable, saying: "Transactions related to personal and sensitive data related to Americans' health information and financial transactions must be reviewed."
" Rubio further noted that the GNC has many stores in and around U.S. military facilities, adding: "The acquisition of GNC by the Pharmaceutical Group allows the Chinese authorities to use GNC's stores near military bases to access restricted locations."
" Ha Pharmaceuticals Group filed for bankruptcy less than three years after its $2 billion acquisition of GNCGNC in February 2018, and the company announced that it intends to invest approximately $300 million (approximately RMB2 billion) to subscribe for 299950 shares of convertible preferred shares issued by GNC, which can be converted into common stock at any time.
the conversion of shares, the company became its single largest shareholder.
less than three years, GNC filed for bankruptcy restructuring in court for poor management.
June 2020, GNC, the world's leading health care product company, announced that the company was unable to make ends meet in the first half of the year due to the impact of the new crown outbreak, and formally filed for bankruptcy protection with the court.
comes less than three years after the company invested $300 million in cash.
the risk of total losses from the investment of the shares.
pharmaceutical group is prepared to spend another $760 million on GNC assets after a $300 million investment in a largely "grain-free" investment.
A GNC spokesman for the acquisition said the group's controlling stake in GNC had previously been reviewed by CFIUS and approved in 2018, adding that no foreign nationals had access to consumer data.