The Euro’s Up, the Buck Is Down and Foreign Buyers Are Coming to Town

Steven E. Gross, Chairman of the Firm, was interviewed for a November 19, 2007 New Jersey Law Journal article discussing the increase in the number of deals involving foreign investors purchasing New Jersey companies. According to the article, “The buying spree is a win-win situation for foreign buyers and U.S. sellers.” “From the U.S. company’s point of view, it’s good because they’re getting a full price. And from the European buyer’s point of view, the dollar is worth 50 percent less that it was five years ago,” says Steven Gross. The article continues, “Much of the bargain hunting in New Jersey is in the pharmaceutical, medical devices and life sciences industries. ‘New Jersey is so important because it’s a medicine cabinet of the U.S.’ says Gross, who is handling three M&As by non-U.S. buyers in the health care industry.”