PAPER SAYS U.S. MAY SEEK TO CURB FOREIGN TAKEOVERS

  The Reagan administration will
  consider curbing foreign takeovers of security-sensitive
  industries such as semiconductors and computers, the New York
  Times said, quoting an unnamed senior administration official.
      "I think there's a strong sentiment here that some
  industries are not totally up for grabs," the paper quoted the
  official as saying.
      "Two of the most visible (industries) are semiconductor and
  computer companies," said the official, who the newspaper said
  was a central figure in the opposition to Japan's Fujitsu Ltd
  &lt;ITSU.T> takeover bid for &lt;Fairchild Semiconductor Corp>.
      The Fairchild-Fujitsu deal was abandoned on Monday, and
  industry analysts said the move was a victory for the Reagan
  administration in its drive to beat back Japanese competition
  in the important computer chip manufacturing industry.
      Officials told Reuters last week that Commerce Secretary
  Malcolm Baldrige and Defence Secretary Caspar Weinberger fought
  the planned sale of Fairchild by French-controlled Schlumberger
  Ltd &lt;SLB> to Japan's largest computer maker because it could
  have left the U.S. Military dependent on foreign sources for
  vital technology.
      The New York Times quoted Baldrige as saying the time had
  come to limit takeovers in security-sensitive areas.
      "Everybody wants an open investment policy, but there have
  to be some exceptions for the national interest," Baldrige was
  quoted as saying.
      The newspaper said Baldrige and Weinberger are expected to
  bring the takeover issue before a top-level interagency
  policymaking group, such as Treasury Secretary James Baker's
  Economic Policy Council or the president's National Security
  Council.
  

