Droht ein Ausverkauf?: Ausländische Käufer übernehmen reihenweise deutsche Firmen

Deutsche Unternehmen are experiencing an unprecedented surge in interest from foreign buyers, with acquisitions of German firms soaring to unprecedented heights. KPMG's research reveals that cross-border deals involving German companies more than doubled between the third quarter of 2025 and the second quarter of 2026, increasing by 134 percent to nearly $129 billion. The number of such transactions rose from 897 to 926, with 18 deals valued over a billion dollars each, according to LSEG data.

US investors are particularly active in this market, accounting for ten billion-dollar deals. Michael Buhl, a KPMG expert, explains that "Germany is in focus for foreign investors" due to German companies offering technological expertise, industrial excellence, and high-quality data. The relative attractive valuation of German firms, coupled with the prospect of billions in state spending for infrastructure and defense, further fuels this interest.

This intense foreign investment mirrors a similar situation in 2007 during the privatization of cable networks. US firms have repeatedly shown interest in Germany, with notable acquisitions such as EBM-Papst to Madison Air for €4.8 billion and BASF Coatings to Carlyle, which acquired a majority stake in the Ludwigshafen chemical giant. Bain Capital announced the majority takeover of Everllence, a Augsburg-based ship and steam engine manufacturer, while the Viessmann group sold its heat pump business to the US firm Carrier.

KPMG's prediction is that German firms will actively profit from these takeovers. The number of overseas acquisitions in Germany is expected to rise by 22 percent to approximately 1,300 transactions by 2028, while acquisitions by German companies are forecast to increase by 13 percent to 1,039 deals. The driving force behind this shift is the disruption caused by artificial intelligence (AI), which will radically reshape many business models.