Germany in China-bashing mode over strategic takeovers

Sectors of the government in Berlin are calling bluntly for an intervention of the European Union (EU) to protect its members against unfair investment practices from Chinese state-owned and private companies. While both EU institutions and member states are sending mixed signals over this German proposal, hawkish supporters of Brexit – Britain’s exit from the EU – are pushing for their leaders to seize on the “China-bashing” that is taking place across the Channel.

Berlin fears that the rise in China’s takeovers of German national assets, notably in the dual-use (i.e. civil and military) hi-tech industry, is driven in large part by the Chinese undisguised desire to buy up Western know-how and intellectual properties, something that will negatively affect the country’s security. Continue reading

Starwood gets higher $13 bln bid from Anbang, tops Marriott offer

(Reuters) – Starwood Hotels & Resorts Worldwide Inc on Friday said a $13 billion cash offer from China’s Anbang Insurance Group Co was superior to one from Marriott International Inc , setting the stage for the largest ever deal by a Chinese company in the United States.

The operator of Sheraton and Westin hotels said the Chinese insurer’s offer beat Marriott’s previously agreed cash and stock offer by nearly 15 percent, and that it planned to scrap the proposed deal with the rival hotel chain. Continue reading