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OTHER NEWS

From Times Staff and Wire Reports

Foreign Buying of U.S. Firms at Record Pace: Due to a weak dollar and relatively low U.S. interest rates, foreign concerns spent $26 billion on more than 300 acquisitions, joint ventures and minority investments in American companies in the first half of the year, KPMG Peat Marwick said in a report. In 1993, foreigners spent $33 billion on 570 deals in the United States. British firms accounted for four of the six largest U.S. deals in 1993 but only one of the top half a dozen so far in 1994--SmithKline Beecham’s purchase of Diversified Pharmaceutical Services from United Healthcare.


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