1. Einleitung Der deutsche M&A-Markt befindet sich allen internationalen Entwicklungen zum Trotz in einer anhaltend robusten Verfassung. Er steht momentan jedoch in einem interessanten Spannungsverhältnis. Die USA, bereits seit Langem Garant für einen steten Strom an Inbound-Investments, entwickeln sich mehr und mehr auch zum Zielland bedeutender deutscher Auslandsinvestitionen. China hingegen, von dem sich viele Marktteilnehmer gerade diese Funktion versprochen hatten, nimmt zunehmend seinerseits deutsche Unternehmen ins Visier. Dies führt zu neuen Diskussionen über eine aktivere deutsche und europäische Industriepolitik zum Schutz heimischer Unternehmen. China selbst beginnt vor einem währungspolitischen Hintergrund, Kapitalabflüsse ins Ausland im Zusammenhang mit M&A-Transaktionen zu regulieren, während gegenwärtig noch unklar ist, ob und wie sich die industriepolitische Ausrichtung der USA unter ihrem neuen Präsidenten und dessen Administration…
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