> a wonder why these sales were approved in this climate
The EU and UK have no good options at the merger level. If they block the sale, it trashes the start-up ecosystem. If they let it through, an American company buys a local one.
The fundamental problem is the paucity of new-firm formation in the EU and UK, the scaling barriers they face that American compeitors don't, and the increased culture of risk-taking in America that lets its firms pay more for acquisitions. The last can't be addressed. The first two probably can by the EU. (The UK is not a viable sovereign entity in these regards.)
The EU and UK have no good options at the merger level. If they block the sale, it trashes the start-up ecosystem. If they let it through, an American company buys a local one.
The fundamental problem is the paucity of new-firm formation in the EU and UK, the scaling barriers they face that American compeitors don't, and the increased culture of risk-taking in America that lets its firms pay more for acquisitions. The last can't be addressed. The first two probably can by the EU. (The UK is not a viable sovereign entity in these regards.)