MCEM - Ash Grove, a large cement company was acquired this morning for $3.5 billion, or roughly $450 per share, a nice premium to the current price of $285. The transaction represents about a 16x multiple of pre-tax income. Ash Grove has a strong midwestern presence, similar to MCEM. This transaction sure makes MCEM look cheap in relation as it trades at close to 3x EBITDA. I had bought 100 shares of Ash Grove the last few weeks as I was researching MCEM, but thought I'd be holding for the next few years given the lack of public information, got really lucky.
