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Friday Letter Protectionism spreads
Angela Merkel's government is set to block certain takeovers by foreign investors. Though touted as a response to sovereign wealth funds looking to buy sensitive assets, those investors infamously dubbed "locusts" in Germany are also at risk. This is a troubling prospect for German companies, like the bank IKB of which Lone Star will take control, given private equity's ability to provide much-needed liquidity.
