Deals
China's $246 Billion Foreign Buying Spree Is Unraveling
- Cross-border purchases tumble 67 percent after a record 2016
- Sellers respond by demanding break fees as high as 10%
China's Biggest Foreign Acquisition Frenzy Is Ending
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China’s biggest-ever foreign acquisition frenzy is ending almost as dramatically as it began.
After stunning the world with a record $246 billion of announced outbound takeovers in 2016, Chinese dealmakers are now struggling to cope with tighter capital controls and increasingly wary counterparties. Cross-border purchases plunged 67 percent during the first four months of this year, the biggest drop for a comparable period since the depths of the global financial crisis in 2009, according to data compiled by Bloomberg.