The Statute. Section 5021 of the Omnibus Trade and Competitiveness Act of 1988 amended Section 721 of the Defense Production Act of 1950 to provide authority to the President to suspend or prohibit any foreign acquisition, merger or takeover of a U.S. corporation that is determined to threaten the national security of the United States. Herein lies the problem with the law. No US Corporation is involved in this. This is a UAE company taking over a British company. The law here is mute.
The law here is mute. You mean "moot", and no it is not. CFIUS has jurisdiction to review foreign acquisitions that involve the transfer of domestic infrastructure and contractual possessory rights. CFIUS didn't conduct some kind of recreational or rogue review of this transaction.
The notion that the US has no means to review a transaction between foreign entities that effects the transfer of domestic infrastructure, and to halt such a transfer if necessary, is absurd. Its called sovereignty.