|
|
Article: M&A activity rises, fueled by foreign investors
- Article from:
- AP Worldstream
- Article date:
- August 1, 2008
- Author:
CopyrightCopyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
|
Figures that point to an increase in merger and acquisition activity the past few months might seem to indicate that the credit crunch is easing and Wall Street is starting to return to a more normal business cycle.
But when one considers that recent headline-grabbing deals have mostly involved foreign companies bidding for industry icons like Genentech Inc. and Anheuser Busch Cos., such an optimistic view might be visible only through a pair of "beer goggles."
In reality, the rise in M&A, like recent investments in other U.S. industries such as financial services and real estate, more likely reflects foreign companies taking advantage of the weak dollar than ...