US Company Carrier Buys German Firm Viessmann's Heating Unit for $13 Billion

Carrier Global Corp is acquiring Viessmann Group's climate solutions unit, which makes heating and cooling equipment, for $13.2 billion.
The deal is part of Carrier's plan to focus on "intelligent climate and energy solutions" as it exits other businesses like fire and security and commercial refrigeration.
Viessmann's climate solutions unit generates 85% of the company's revenue and is a leader in heat pumps, which Germany wants to expand to reduce emissions.
The German government is scrutinizing the deal to ensure it benefits the country's economy and green energy transition.
The acquisition boosts dealmaking in Germany's slowing mergers and acquisitions market and expands the U.S. company's reach in Europe's growing heat pump market.