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Article: Foreign investors fuel spike in mergers and acquisitions
- Article from:
- Tribune-Review/Pittsburgh Tribune-Review
- Article date:
- August 3, 2008
- Author:
CopyrightCopyright 2008 Tribune-Review/Pittsburgh Tribune-Review. Provided by ProQuest LLC. (Hide copyright information)
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NEW YORK -- 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 it does a loosening ...