About a year and a half ago, Warren Buffet made huge waves by buying Israel-based Iscar Cutting Tools. Word on the street at the time was that through the Buffet deal, one could reasonably assume that the U.S. was acknowledging the value of manufacturing.
It was just announced this week that German company has bought Minnesota-based Command Tooling Systems.
(See the press release from Command here.)
So what does this mean - a venerable U.S. manufacturer scooped up by a foreign concern?
(Gee, now that's never happened before.)
It all goes to show that people will read into M&As whatever they want. The fact is that sound business motives are usually the drivers of these events - no matter how good wishful thinking feels.
