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Breakingviews - China’s Midea regains outbound deal appetiteMidea , a $58 billion Chinese white goods champion, made waves in Europe in 2016 when it bought German robot maker Kuka for nearly $5 billion. Seven years later, the company is eyeing Sweden’s home appliance brand Electrolux , a complementary asset currently worth around $7 billion including debt. A successful tilt could mark the beginning of a revival in outbound M&A by Chinese firms after offshore deals touched a historic low of $29 billion in 2022, per EY estimates.
Source: Breakingviews - 🏆 470. / 51 Read more »
Breakingviews - Tech groupthink could hinder AI competitionEveryone wants a piece of OpenAI, the startup behind artificial intelligence-powered chatbot ChatGPT. After raising $10 billion from technology giant Microsoft , the company has raked in another $300 million from venture capital’s leading lights, including Andreessen Horowitz and Sequoia Capital, TechCrunch reported. Its competitors may struggle to find backers with deep enough pockets to help them unseat the reigning leader.
Source: Reuters - 🏆 2. / 97 Read more »