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Cross-border M&A activity of Asian firms purchasing U.S.-based companies is rising at the same time that the credit crisis curtails U.S. acquisitions by Western European firms, according to data from Bloomberg. The news service reports that foreign M&A in the U.S. hit $365 billion thus far in 2008, up from $312 billion during the same period in 2007.
But the makeup of that dealmaking is undergoing a shift as European
firms stung by huge losses at the financial firms and an economic
slowdown have reduced the number of acquisitions they're making in the
U.S. At the same time Asian firms in Japan, South Korea, China and
Singapore, where the effects of the credit crunch have been muted, have
been quick to capitalize on the opportunity to move in the U.S. market.
At The Deal's M&A Outlook 2009 conference this week, a panel of dealmakers discussed cross-border M&A. Steven Baronoff, managing director and head of global M&A for Merrill Lynch & Co., commented that China is continuing to learn how to do deals in the U.S. "They will try to do deals in less politically sensitive industries. They're getting better at dealmaking." Baronoff acknowledged there's a pause in dealmaking from Western Europe, but deals are happening, mentioning InBev SA's acquisition of Anheuser-Busch Cos. He joked: "I don't know about you, but I think beer is a strategic asset." - George White See Bloomberg story See Corporate Dealmaker post on cross-border M&A See more content from M&A Outlook 2009 Categories Deal Video
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