Covington & Burling LLP operates as a limited liability partnership worldwide, with the practice in England and Wales conducted by an affiliated
limited liability multinational partnership, Covington & Burling LLP, which is formed under the laws of the State of Delaware in the United States
and authorized and regulated by the Solicitors Regulation Authority with registration number 77071..
Jonathan Wakely practices at the intersection of national security and the private sector, advising clients on a range of significant cross-border investment, national security, cybersecurity, supply chain security, and public policy matters. He has particular expertise representing leading global investors and U.S. companies in securing U.S. national security-related regulatory approvals for foreign investments, and has advised on transactions with a combined value of over $250 billion.
Jonathan regularly represents clients before the Committee on Foreign Investment in the United States (CFIUS), the Committee for the Assessment of Foreign Participation in the United States Telecommunications Services Sector (better known as “Team Telecom”), and the Defense Counterintelligence and Security Agency (DCSA) in proceedings related to the mitigation of foreign ownership, control, or influence (FOCI). Clients regard Jonathan as “fantastic and a rising star,” commenting that he’s “an excellent lawyer” and applauding his “great understanding of CFIUS work” (Chambers USA).
Jonathan has represented clients on national security reviews in virtually all sectors, including semiconductors, telecommunications, financial services, software, IT services, energy, and real estate. His representations include, for example, the landmark CFIUS-based defense of Qualcomm against the attempted hostile takeover by Broadcom; representing Ford Motor Company before CFIUS in multiple strategic transactions, including the $2.6 billion investment by Volkswagen in Ford’s autonomous driving subsidiary, Argo AI; and securing approval from Team Telecom for Univision’s $4.8 billion merger with Televisa. He has also negotiated and advised companies on compliance with many of the most significant, complex, and sensitive national security agreements of the past decade.
Clients also turn to Jonathan for advice on strategic business and policy matters related to U.S.-China competition. He is regularly engaged by multinational businesses—including some of the world’s leading technology companies—to assist in developing legal and business strategies related to positioning with respect to China. He has recently advised clients on implementation of the CHIPS Act, the potential for regulation of outbound investment, and other economic “de-coupling” measures.
Jonathan has been recognized by various publications for his work on national security matters, including as one of the world’s leading foreign investment lawyers under 40 by Global Competition Review, as a “DC Rising Star” by The National Law Journal, as a “Rising Star” by Law360, and as a leading CFIUS expert by Chambers USA.
In addition to his legal practice, he is an adjunct professor at the Georgetown University Law Center, where he teaches a course on national security and the private sector. Jonathan has also published extensively on matters related to the regulation of foreign investment; his articles have appeared in the Harvard National Security Journal, The International Lawyer, and the Global Trade and Customs Journal.
Before joining Covington, he served as a political analyst with the Central Intelligence Agency (CIA), where he provided strategic analysis to the President and other senior policymakers.
Qualcomm Incorporated - Successful defense against hostile takeover by Broadcom Ltd. valued at $117 billion
Univision - $4.8 billion Merger with Televisa, Merger and Sale of Majority Ownership Interest to Searchlight Capital Partners and ForgeLight for $800 Million
TEGNA - $8.6 billion sale to Standard General
Genworth Financial - $2.7 billion acquisition by China Oceanwide
Ford Motor Company – Multiple strategic transactions, including $2.6 billion investment by Volkswagen in Argo AI
Merck KGaA - $6.5 billion acquisition of Versum Materials
CenturyLink Inc. - $36 billion merger with Level 3 Communications Inc.
Altice N.V. - Acquisitions of Suddenlink ($9.1 billion) and Cablevision ($17.7 billion)
Creat Group - $1.5 billion acquisition of Biotest AG
General Electric - $2.6 billion sale of its Industrial Solutions business division to ABB Verwaltungs Ltd
Koch Industries - Sale of Invista Advanced Apparel & Textiles business to Shandong Ruyi (China)
Lenovo Group Limited - Acquisition of IBM’s x86 server division for $2.1 billion
Publicis Groupe and Sapient Corporation - Acquisition of Sapient Corporation by Publicis Groupe for $3.7 billion
Nexen Inc. - Acquisition by CNOOC Ltd. for $15.1 billion
NXP Semiconductor - $2.7 billion sale of its Standard Products business (known as Nexperia) to JAC Capital and Wise Road Capital
Borealis Infrastructure Management - Multiple acquisitions in the energy sector
Abu Dhabi National Energy Company PJSC (TAQA) - Successful energy-sector transaction
BAE Systems, Inc. - Multiple acquisitions
Carlyle Group - Multiple transactions
National Security Policy Matters
Advising client on the potential for regulation of outbound investment and other U.S.-China economic de-coupling measures
Advising leading U.S. and global semiconductor companies on the CHIPS Act, including the national security-related “guardrails” provisions.
Advising a leading European semiconductor company on risks related to business in China
Represented numerous businesses and trade associations on legislative and regulatory matters regarding the Foreign Investment Review Modernization Act of 2018 (FIRRMA).
Advised multiple U.S. technology companies on national security regulatory aspects of business relationships in China.
Represented multiple trade associations on national security-related legislative matters.
Secured the reinstatement of a respected professor’s H-1B visa improperly revoked on national security grounds.
Represented the Brady Center to Prevent Gun Violence in a successful constitutional challenge to the Nelson, Georgia “Family Protection Ordinance,” which required residents to keep and maintain a firearm.
Successfully represented an Iraq War veteran in obtaining Combat-Related Service pay.
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