Red Dawn 2012: Chinese Acquisitions of US Assets & Businesses at Record High
The $7.8bn is the most for the first eight months of any year and is approaching the full-year record of $8.9bn for Chinese deals buying into the US set in 2007, according to data from Dealogic.
“China is getting bigger, getting richer, getting more sophisticated. Chinese companies are developing – all of that drives growth in deal activity,” Joe Gallagher, co-head of M&A in Asia at Credit Suisse, said. “Some of China’s biggest companies, especially in the oil and gas sector, are getting much more sophisticated in their approach to acquisitions.”
Credit Suisse advises on many deals involving Chinese acquisitions of US “targets,” AS FT terms US businesses, having advised in $5.1bn of the trades. Credit Suisse is behind Goldman Sachs and Citigroup for general M&A in China.
Hollywood has noticed the trend, doing what it could do to warn the American public of a red dawn style takeover of the US by China: