Acquisitions of companies in the United States by foreign-based firms have reached their highest level since 2000, according to research firm Dealogic.
Announced cross-border M&A inflow into the United States has reached $118.2 billion so far in 2006, the highest year-to-date volume since 2000 and a rise of 169 percent on the $43.9 billion of deals at this stage last year, Dealogic said.
British companies are leading the charge to buy American rivals, with French and Canadian companies not too far behind. Britain has been the most active acquirer in the United States in 2006, with $30.6 billion of announced deals so far,compared with $11.4 billion year-to-date in 2005, Dealogic reported.
Among bigger transactions, British power network operator National Grid agreed to buy US natural gas distributor KeySpan Corp for about $7.3 billion.
French communications equipment maker Alcatel agreed to buy New Jersey-based rival Lucent Technologies Inc for about $14 billion.
Utilities and energy is the most targeted industry by foreign acquirers so far in 2006, with a volume of $25.2 billion. That compares with a mere $102 million at this stage last year, Dealogic said.
US telecoms companies have also been popular take-over targets for foreigners, with $19.2 billion of announced deals so far, up from only $321 million at this stage in 2005.