Merger Bonanza Hits Finland as Economic Pain Becomes Asset

Finland, reeling from a slump in its two main industries, is finding that a weak economy has turned a number of its businesses into attractive acquisition targets.

Competitors from the U.S., Sweden, the U.K. and Japan are circling in to snap up cheap assets in the northernmost euro nation, including a $1.56 billion takeover offer for steelmaker Rautaruukki Oyj by Sweden’s SSAB. The risk of job cuts brought by the deals is worth it for an economy in need of transformation, according to Mika Maliranta, research director at the Research Institute of the Finnish Economy ETLA.