Thursday, February 22, 2007

speechless.......watch this stock move

it´s maybe time not to put fingers on google to describe this market as frothy. just look at the market action when vulcan bought florida rock.

man braucht um den täglichen hype zu erkennen keine finger mehr auf google zu richten. hier ein beispiel aus der baubranche.


1)the news
Vulcan Agrees to Buy Florida Rock for $4.6 Billion http://tinyurl.com/2lq8b4

Vulcan Materials Co., the biggest U.S. producer of highway construction materials, will acquire Florida Rock Industries Inc. for $4.6 billion to add gravel reserves and concrete-making capability in southeast states.

Florida Rock shareholders will receive cash and stock valued at $68.03 a share, 45 percent higher than the closing price on Feb. 16, Birmingham, Alabama-based Vulcan said in a statement yesterday. The payment will be 70 percent in cash.

Vulcan is offering an ``unprecedented'' 12.6 times Florida Rock's projected 2007 earnings before interest, taxes, depreciation and amortization, ABN's Roger said.

``I realize that a premium of this size is at the higher end of industry comparisons,'' Vulcan Chief Executive Officer Donald James, 64, said on a conference call today. ``Great companies and great opportunities don't come cheap. Florida Rock is well managed, is in high growth markets and has superior long-term assets and reserves.''

Standard & Poor's Ratings Services today lowered its corporate credit rating on Vulcan to A- from A+, and placed the ratings on review for a possible downgrade. Vulcan will issue $3.2 billion in new debt for the purchase, James said, bringing total debt to $3.7 billion, or a debt-to-capital ratio of 51 percent.

Vulcan will lower its debt-to-capital ratio to 35 percent to 40 percent within three years and intends to maintain an investment grade rating, he said


2) the facts:

vulcan pays a 46% premium ( lifts florida rock to an all time high) / 46% aufschlag neues ath für frk

i neglect the debt issue this time. ( a ratings are rare these days) / rating immer noch gut

they pay a record multiple to get florida rock / rekordbewertung bezahlt

mhhhhh, now lets take a look what is so great about frk.

zeit sich das übernamheobjekt etwas genauer anzusehen.


􀂉One of the Nation’s largest producers of aggregates.

􀂉Major supplier of Ready Mix Concrete in Florida, south Georgia, Virginia and Maryland (Ranked #1 or #2 in most markets).

􀂉Major Florida cement supplier through Newberry Cement Plant and two import terminals.

65% of sales are in florida!

with 45% tied directly to residential building!



3)the stock market reaction!

buying a company that is mainly dependent on the florida real estate market! with a 46% premium would lead me to the conclusion to sell vulcan shares.

but surprise, surprise... vulcan shares spiked almost 15%! to an all time high!


da wird also ne firma gekauft die zu über fast 50% vom immobilienmarkt in florida abhängt. dazu wird noch ne fast 50% prämie gezahlt. ich würde meine vulcan aktien sofort vertickern.

überflüssig zu erwähnen das vulcan aktien bis zu 15% gestiegen sind und ein neues allzeithoch erreicht haben.

Labels: , , ,

5 Comments:

Blogger buy wow gold said...

When the Wow Gold wolf finally found the Buy Wow Goldhole in the chimney he crawled wow gold cheap down and KERSPLASH right into that kettle of water and that was cheapest wow gold the end of his troubles with the big bad wolf.

game4power,buy cheap wow goldWOW GOLDThe next day the cheap wow gold buy gold wow little pig invited his mother over . She said "You see it is just as I told you. The way to wow goldget along in the world is to do world of warcraft gold things as well as you can." Fortunately for that little pig, he cheapest wow gold learned that lesson. And he just lived happily ever after!

1:07 AM  
Blogger ninest123 Ninest said...

ninest123 12.26
louis vuitton, michael kors outlet, tory burch outlet, louis vuitton, nike air max, polo ralph lauren outlet, louboutin outlet, prada outlet, oakley sunglasses, tiffany and co, louboutin shoes, nike outlet, christian louboutin outlet, cheap oakley sunglasses, ray ban sunglasses, ray ban sunglasses, burberry outlet online, louis vuitton outlet, polo ralph lauren outlet, oakley sunglasses, ugg boots, louboutin, chanel handbags, michael kors outlet, longchamp outlet, ray ban sunglasses, burberry, tiffany jewelry, michael kors outlet, michael kors outlet, louis vuitton, oakley sunglasses, jordan shoes, replica watches, longchamp outlet, uggs on sale, prada handbags, nike air max, ugg boots, longchamp, oakley sunglasses, michael kors, replica watches, michael kors outlet, nike free, gucci outlet, ugg boots, louis vuitton outlet, ugg boots

7:09 PM  
Blogger ninest123 Ninest said...

michael kors, nike trainers, tn pas cher, true religion jeans, sac longchamp, sac guess, true religion outlet, ray ban pas cher, nike free run uk, air jordan pas cher, nike air max, true religion jeans, coach purses, nike air max, converse pas cher, vans pas cher, nike free, louboutin pas cher, timberland, hollister, michael kors, nike roshe run, true religion jeans, nike huarache, hogan, longchamp pas cher, vanessa bruno, air max, nike air max, oakley pas cher, hollister, lacoste pas cher, lululemon, burberry, abercrombie and fitch, ralph lauren uk, nike blazer, mulberry, replica handbags, air force, michael kors, longchamp, michael kors, ray ban uk, nike roshe, north face, ralph lauren pas cher, north face, coach outlet, new balance pas cher

7:11 PM  
Blogger ninest123 Ninest said...

iphone 6s plus cases, ghd, instyler, vans, giuseppe zanotti, insanity workout, nike roshe, north face outlet, lululemon, mont blanc, iphone 5s cases, bottega veneta, ipad cases, iphone 6 cases, celine handbags, soccer shoes, soccer jerseys, converse, vans shoes, mcm handbags, abercrombie and fitch, hollister, babyliss, iphone 6 plus cases, nike air max, chi flat iron, baseball bats, ferragamo shoes, birkin bag, ray ban, louboutin, nfl jerseys, mac cosmetics, new balance, jimmy choo shoes, timberland boots, wedding dresses, asics running shoes, iphone cases, gucci, beats by dre, valentino shoes, hollister, ralph lauren, p90x workout, oakley, reebok shoes, north face outlet, nike air max, iphone 6s cases, s5 cases, herve leger

7:14 PM  
Blogger ninest123 Ninest said...

canada goose outlet, moncler, supra shoes, pandora jewelry, canada goose, pandora charms, moncler, swarovski crystal, thomas sabo, canada goose, links of london, sac louis vuitton pas cher, swarovski, converse outlet, juicy couture outlet, ugg pas cher, barbour, doudoune canada goose, barbour jackets, moncler, ugg boots uk, replica watches, ugg,uggs,uggs canada, moncler, pandora charms, moncler, canada goose uk, moncler, juicy couture outlet, canada goose outlet, canada goose, louis vuitton, doke gabbana outlet, moncler, wedding dresses, pandora jewelry, louis vuitton, louis vuitton, bottes ugg, moncler outlet, lancel, coach outlet, hollister, toms shoes, montre pas cher, marc jacobs, ugg,ugg australia,ugg italia, karen millen, louis vuitton, canada goose
ninest123 12.26

7:17 PM  

Post a Comment

Links to this post:

Create a Link

<< Home