German giants spend billions to buy U.S. rivals

Looks like German firms sure have taken a shine to their American counterparts.
 
According to CNNMoney, there have already been nearly 400 takeovers by European firms of U.S. companies in 2014, and 56 of those were by German corporations. The total buyouts are tallied at more than $156 billion, up from $25.6 billion during the same time in 2013.
 
European companies seem especially interested in U.S. pharmaceutical and energy firms, according to CNNMoney, which reports Siemens bought Houston-based oil and power tech company Dresser-Rand for $7.6 billion in cash on Monday. The biggest takeover was of St. Louis-based pharmaceutical company Sigma Aldrich by German drug corporation Merck. That deal closed for $17 billion in cash on Friday.

Read more from CNNMoney.