China is gobbling up foreign firms at a record rate

China is buying US firms

Chinese firms are snapping up foreign companies at a record rate.

Research firm Dealogic estimates that $108.5 billion in foreign deals have already occurred in 2016. There have already been 281 announced deals this year, compared to 611 for all of 2015.

Last year $106 billion in total acquisitions were picked up by Chinese firms for the entire year.

Among this years deals was the ChemChina offer to acquire Swiss company Syngenta for $48 billion.

While there have been many deals announced in the first quarter of 2016, many of those deals are still waiting regulator approval.

Some deals have already been pulled back. Chinese insurer Anbang attempted to acquire Starwood Hotels for $14 billion. The company eventually pulled that bid and Marriott International announced an agreement to acquire the company.

Here are the top four deals from China in 2016.

1. ChemChina – Syngenta, $48 billion

2. Tianjin Tianhai Investment – Ingram Micro, $6.3 billion

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3. Haier – GE’s appliance business, $5.4 billion

4. Zoomlion Heavy – Terex Corp., $4.8 billion

Written by John Howard

John Howard

John Howard is the Business Editor at BusinessPundit.com. He is an avid watcher of markets, a wallflower of retail, and a fan of disruptive businesses that utilize technology and unique ideas to form brilliant new ways of doing business. He can be reached at Student Loan Ninja