In the News

In Their Sights: Foreign Companies Reap Benefits of Weak Dollar and Invest in U.S.

The Star-Ledger (August 20, 2008); The Times of Trenton (August 20, 2008)

August 20, 2008

This article discusses the uptick in the number of foreign companies buying U.S. companies due to the weakened U.S. dollar. “Our currency has made the U.S. acquisition market an unbelievable shopping opportunity for foreigners,” said Max Crane, managing partner at Sills Cummis & Gross. “We’ve become the K-Mart for overseas investors,” added Crane. The article continues, “Earlier this year, for example, Sills Cummis & Gross represented Florham Park-based Bradley Pharmaceuticals in a deal where Nycomed, a Danish subsidiary of a Swiss company, acquired it for $300 million. Crane watched American companies drop out, one after the other, until Nycomed emerged as the lone suitor.”