U.S. companies such as General Electric and Microsoft are using cash parked overseas to snap up foreign companies at more than double last year's pace. Through the first seven months of 2011, there have been about $174 billion in deals in which U.S. companies bought foreign assets, nearly matching the total for all of 2010. "More U.S. companies are scouting the universe for an asset or a company they want and financing it with offshore cash," says Marc Zenner, co-head of JPMorgan Chase's corporate finance advisory group.
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