This deal is curious insofar as a company based in one of the weakest European countries—Spain—is buying a US company at a time when the US dollar is especially strong against the Euro. This shows the danger of over-generalizing about these sorts of “macro” issues.
CC on the merger at 4am ET (10am Barcelona time).
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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