Major transactions are driving the German M&A market. After several fruitless attempts, Deutsche Telekom and Softbank entered into a business combination agreement to merge T-Mobile US with its rival, Sprint. German building materials maker Knauf agrees the $ 7 billion takeover of competitor USG, while Merck sells its OTC business to Procter & Gamble for around € 3.4 billion. Vonovia continues to drive the consolidation of the residential property market, submitting a takeover bid of around € 900 million for Swedish real estate company Victoria Park. Daimler and BMW combine their mobility businesses, including car-sharing subsidaries Car2Go and DriveNow, forming five joint ventures in total. Continue Reading