Flailing Economy Entices Japanese

The United States is for sale and foreigners are being seduced by our feeble economy. The latest string in foreign acquisitions comes in the form of Mitsubishi UFJ Financial Group’s $3 billion bid to buy out minority investors in its California unit. MUFG is also inconspicuously pursuing other potential acquisitions in the U.S., including buying out UnionBanCal Corp. minorities, according to the Wall Street Journal.

Although UnionBanCal rejected MUFG’s bid to buy 35 percent of the company on Wednesday, MUFG stated their prospects for expanding foreign acquisitions won’t be affected whether they succeed in buying UnionBanCal or not. MUFG will continue its path in buying off America thanks to the subprime-mortgage turmoil that has depreciated U.S. bank valuations. Cash-rich Japanese corporations are venturing outside lethargic domestic markets, in order to pursue the lucrative U.S. market where the weak dollar and our weakening economy are contributing to the death of the American company.

Foreign takeover of U.S. companies is pitifully becoming the norm. Within the past five years America has most notably lost Anheuser-Busch to Belgian-based InBev for $52 billion; Alcon, the world leader in eye care was usurped by Swiss pharmaceutical maker Novartis’ for $39 billion and KeySpan Corp. was bought out by British energy distributor National Grid for $11.8 billion.

Since 1978 the U.S. has sold off 16,613 of its best companies and the Bureau of Economic Anaylsis has adpoted a new policy that will attempt to cover up the fact that America is for sale. All the while foreign investors continue chomping at the bit.

Source Wall Street Journal:

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