Deals
France Inc. Racks Up $45 Billion of Deals in October Spree
- Companies seek overseas acquisitions to weather uncertainty
- PSA’s Fiat tie-up follows on heels of Tiffany pursuit by LVMH
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French companies have been on an foreign acquisition tear in recent weeks, offering a rare bright spot for bankers amid a weak global dealmaking environment.
Peugeot owner PSA Group announced Thursday it’s in talks to combine with Italian-American rival Fiat Chrysler Automobiles NV, capping the busiest month for acquisitions by French companies in over a decade. Companies in France announced nearly $45 billion of purchases in October, more than double a year earlier, according to data compiled by Bloomberg.