THE YANKS ARE COMING--TO BUY FOREIGN COMPANIES
A marked role reversal took place in international acquisition activity involving American companies last year. According to Merrill Lynch Business Brokerage and Valuation division, which keeps tabs on merger activity, U.S. companies flexed their financial muscles by announcing a record 403 foreign acquisitions valued at $1 million or more, up 66% from 1991.
By contrast, similar acquisitions of U.S.-owned companies by foreign purchasers sank to an eight-year low of 167 last year. The sharpest decline in the number of acquisitions was posted by Japan, which announced only 12 purchases, compared with 30 in 1991.GENE KORETZ