US tourists coming to Europe to go shopping over the summer is a tradition as established as European tourists flocking to New York for bargain-hunting weekends. This year, however, some US visitors have been looking for bargains in Europe that they aren’t planning to ship home.
According to Standard & Poor’s, 620 M&A deals have been announced in the past 12 months that involve a US acquirer and European target. Total cash and short-term holdings among non-financial S&P 500 firms have risen by 42.6%
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