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Thursday, June 05, 2008 5:58:26 PM
>Don't forget MLNM and SIRT for recent huge premiums.<
The SIRT premium was “only” 85% and the MLNM premium was an utterly pedestrian 50%
>In general this looks like very stupid foreign companies grossly overpaying. What good is the weak dollar if they make up for it by paying too much?<
Are you referring to all four of the foreign buys in question (SIRT, MLNM, IOMI, TRCA) or just some of them? My own view is that the MLNM price was excessive, but the SIRT price was justified; I don’t know enough about IOMI and TRCA to have a strong opinion. (COLY and KOSN were acquired by US companies.)
The SIRT premium was “only” 85% and the MLNM premium was an utterly pedestrian 50%
>In general this looks like very stupid foreign companies grossly overpaying. What good is the weak dollar if they make up for it by paying too much?<
Are you referring to all four of the foreign buys in question (SIRT, MLNM, IOMI, TRCA) or just some of them? My own view is that the MLNM price was excessive, but the SIRT price was justified; I don’t know enough about IOMI and TRCA to have a strong opinion. (COLY and KOSN were acquired by US companies.)
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