The talk at the World Economic Forum was of globalization and an enlarged European economic union. But nationalism may turn out to be the most important factor in determining the outcome of the largest corporate deal discussed in the halls of the forum.
Aventis, the large French pharmaceutical company, prepared last week to defend itself against reported plans by a smaller French drug company, Sanofi-Synthélabo, to make a bid for it. But even before Sanofi made any public offer, the French finance minister seemed to endorse the offer.