Germany may continue to be the backdrop for cross-border dealmakers over the next several months. Lately, strategic buyers from Europe's largest economy have been using M&A as a means to bolster their businesses and U.S.-based companies are the likeliest targets. For proof, consider the recent sales of Houston-based Dresser-Rand (NYSE: DRC) and Missouri-based Sigma-Aldrich Corp. (Nasdaq: SIAL).

When Muenchen-based Siemens AG (OTCPK: SIEGY) confirmed that it agreed to buy oil-drilling equipment firm Dresser-Rand for $7.6 billion, an even bigger Germany-U.S. deal would be announced the following day. On Sept 22, drugmaker Merck KGaA said it will buy St. Louis -based Sigma-Aldrich, a supplier of chemicals to the life-science industry, for $17 billion. Both deals are in cash.

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