Cleveland Cliffs Inc (CLF): M&A factoid: The median value paid in ac...

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Re: DewDiligence post# 59

Sunday, 10/07/2012 4:18:59 PM

Sunday, October 07, 2012 4:18:59 PM

M&A factoid: The median value paid in acquisitions of iron-ore companies worth $100M+ has been 2.6x book value, according to Bloomberg (http://www.bloomberg.com/news/2012-10-05/iron-ore-bear-market-leaves-arrium-with-low-bid-real-m-a.html ). There are 70 such deals in the dataset.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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