Siemens to Use ADRs for Purchases in U.S.

Siemens, Germany’s biggest engineering and electronics company, should act soon after its U.S. listing today and make acquisitions overseas as long as assets are cheap, analysts and fund managers said. The company plans to focus primarily on building its mobile phone and process-automation businesses in the U.S. It has spent $6 billion on U.S. purchases since 1998, and Siemens has said it will use the American depositary receipts to make more purchases.