Japan's companies spent a record amount in 2012 to acquire assets outside of their economically moribund country, up 24 percent from the previous year, as a strong yen turned foreign companies with a strong growth potential into bargains. Investment bankers say 2012, which saw the largest foreign purchase on record by a Japanese company, may have marked a fundamental shift in corporate Japan's attitude to foreign mergers and acquisitions that could spell even more deals ahead."There's been a marked change in approach by the large Japanese (corporation), who now realize the need to diversify," said Gregg Lemkau, head of M&A for Europe and Asia at Goldman Sachs. "They seem to have woken up in a way that has made them much more competitive in cross-border M&A situations."Softbank Corp's audacious $20.1 billion takeover of 70 percent of U.S.-based Sprint Nextel Corp, which has yet to be finalized, was the largest ever acquisition by a Japanese company of a foreign target.All in all, Japanese companies spent nearly $84 billion in outbound M&A in 2012 in over 655 deals, up from $68 billion in 2011, according to Thomson Reuters data.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S traded higher by 0.37% or $0.02/share to $5.48. In the past year, the shares have traded as low as $2.10 and as high as $6.04. On average, 64834900 shares of S exchange hands on a given day and today's volume is recorded at 45930852.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.86% or $0.25/share to $29.38. In the past year, the shares have traded as low as $25.57 and as high as $30.66. On average, 804819 shares of TRI exchange hands on a given day and today's volume is recorded at 835859.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.8% or $0.23/share to $29.03. In the past year, the shares have traded as low as $26.47 and as high as $30.25. On average, 907861 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 1258500.
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