European companies are snapping up U.S. targets at the fastest pace since 2008 as they use cheap financing and record cash levels to seek growth outside of the continent.
From German drugmaker Merck KGaA to British American Tobacco Plc, European acquirers announced $87 billion of deals in the U.S. in the third quarter, more than the previous 12 months combined, according to data compiled by Bloomberg. That spending helped drive global deal volume to $886.7 billion, a 29 percent jump from the year-earlier quarter, the data show.
