Tag: Bids

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Business

Bids for Kansas Metropolis Southern present bargains stay in market

Bids for Kansas City Southern show bargains remain in market

The bidding war for railroad operator Kansas City Southern shows that investors can still find undervalued stocks in the market, CNBC’s Jim Cramer said Wednesday.

The “Mad Money” host said it understood those concerned about a generally frothy environment and noted the exploding interest in cryptocurrency Dogecoin, NFTs and SPACs in recent months.

“But every time I worry about the craziness, it reminds us that stocks may be a lot cheaper than you think, at least for other companies willing to pay for the whole company, even if you are do not do.” “Said Cramer.

Take a look at the competing bids for Kansas City Southern, he said.

On Tuesday, the Canadian National Railway announced its offer to acquire Kansas City Southern in a deal in which the company was valued at $ 325 per share.

That’s more than a planned deal announced by rival Canadian Pacific late last month. Back then, there was a stock and cash agreement with Kansas City Southern that valued the Missouri-based company at $ 275 per share.

While Canadian Pacific has criticized Canadian Nation’s “unsolicited offer”, Cramer said the situation teaches equity investors to study the market.

A Kansas City Southern (KSC) Railway locomotive travels through Knoche Yard in Kansas City, Missouri on Tuesday, January 7, 2020.

Whitney Curtis | Bloomberg | Getty Images

Kansas City Southern, with its exposure to Mexico and the country’s auto industry, has a really important business that has apparently been overlooked, Cramer said.

“The market was clearly completely wrong about this – otherwise you would have received not one but two large tender offers,” said Cramer. “That shows you that before the first offer from the Canadian Pacific, Kansas City Southern was massively undervalued. And yes, I think the other railroad operators have a better understanding of what KSU is worth than Wall Street.”

It’s important not to extrapolate too much, warned Cramer. “That doesn’t mean every company is a bargain. Some of them are too big to buy, others are really too expensive,” he said, while adding antitrust concerns will get in the way of other deals.

At the same time he claimed, “There are many companies like Kansas City Southern.”

“This deal makes you think about it the next time you hear someone whine about how expensive stocks are,” said Cramer. “Sometimes companies in the same industry are willing to pay a lot more for a stock than the market. I think that’s a very encouraging sign. So don’t be discouraged when so many people insist on buying what you believe.” that they have it. ” no value at all. “

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Business

Alden World Bids for Management of Tribune

Alden Global Bids for Control of Tribune

In August, when most newspaper workers had been working remotely for months, Tribune announced that The Daily News’ physical newsroom will be permanently closed. That announcement was quickly followed by the closure of The Morning Call newsrooms in Allentown, Pennsylvania; The Orlando Sentinel; The Carroll County Times in Westminster, Md .; and The Capital Gazette in Annapolis, Md. In December, the newsroom of another Tribune daily newspaper, The Hartford Courant, which has been operating since 1764, went dark.

In the proposal letter to the Tribune Board, Mr. Smith von Alden said his company had held discussions with Stewart Bainum Jr., a Maryland chief executive and former politician, to gauge his “interest in certain Tribune assets”.

Mason Slaine, a former CEO of Thomson Financial, who owns around 7 percent of the Tribune’s shares, has publicly proposed to Tribune that they sell individual newspapers. Mr. Slaine, who has a home in Boca Raton, Florida, has expressed an interest in purchasing a grandstand newspaper, The Sun Sentinel of South Florida.

Revenue for the local news industry has declined over the past 15 years as readers increasingly preferred to get the news on screens rather than in print newspapers. Alden and other hedge funds have nonetheless managed to generate profits from newspaper chains through strict management practices, and the financial sector has sparked a wave of consolidation in the news media business.

In 2019, Gannett, the editor of USA Today, was acquired by New Media Investment Group, the parent company of GateHouse Media, to create a giant (named Gannett) that publishes roughly one in five daily newspapers in the country. The supersize version of Gannett was created thanks to nearly $ 2 billion in funding from Apollo Global Management, a private equity firm.

In 2020, the last of the big family-owned chains, McClatchy, emerged from bankruptcy as the property of Chatham Asset Management, a New Jersey hedge fund. Chatham also has a controlling interest in Postmedia, one of Canada’s largest newspaper publishers. Since taking over the Canadian media company, 1,600 employees have been laid off and more than 30 publications have been discontinued.

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World News

A Locked-Down Europe Bids a Subdued Good Riddance to an Terrible Yr

A Locked-Down Europe Bids a Subdued Good Riddance to an Awful Year

Saying world wishes for a year had been an illusion; the greatest event in Paris was really one. It may be an optimistic “welcome to the other side”.

Inside a virtual Notre Dame Cathedral – a resurrected, reinterpreted version of the fire-lashed treasure – the city broadcast a computer-generated concert and light show with no one actually inside the cave-like landmark and no crowd outside.

Most of the people living now have never seen a year in which Europe, like much of the world, was so eager to break free of it – or was unable to go out with fanfare. Vaccines are the first real glimmers of hope, but the coronavirus is still ruling uncontrollably, a new variant is fueling new fears and much of the continent is locked in some form.

Concerts? Canceled. Crowds and parties? Forbidden. Stay out all night? Don’t even think about it. Across Europe, where Covid-19 has killed nearly 600,000 people, cities and nations sent the message that the only acceptable place to spend New Years Eve was home, and they tried to arrange enough spectacle or online shows to to keep people there.

“Covid loves a crowd,” said Professor Stephen Powis, England’s medical director for the UK’s National Health Service. “So please leave the parties for later in the year.”

In a televised address from the Élysée Palace, French President Emmanuel Macron, who had recovered from his own virus, said: “The year 2020 will end in the course of development: with efforts and restrictions.”

  • in the BerlinThe traditional television broadcast from the Brandenburg Gate ended without fireworks or live viewers. It’s one of 56 popular New Year’s Eve spots in the city that authorities are closing overnight in hopes to discourage banned outdoor gatherings. Indoor meetings are limited to five adults from no more than two households. The sale of private fireworks, a tradition for the holidays that Germans call New Years Eve because it is the feast day of St. New Years Eve, was banned – although some went off anyway. “It is necessary that this is probably the quietest New Year’s Eve Germany can remember,” said Jens Spahn, the country’s health minister.

  • Instead of his annual live concert outdoors Rome replaced an online streamed celebration with a series of performances and a hard-to-describe event, part concert, part light show and part stargazing entitled “How to Hear the Universe in a Spider / Web”. After Italy went under 10 p.m. curfew and banned the traditional New Year’s Eve fireworks, President Sergio Mattarella said in his annual address that the pandemic had changed the country, “exacerbating past fragility, exacerbating old inequalities and creating new ones”.

  • in the GenevaFireworks around Lake Geneva (also known as Lac Leman) in the heart of the city have been canceled and bars and restaurants have closed, although restrictions on private gatherings have been eased from five to ten people. Many residents of the quiet city had set out for open Swiss ski areas – much to the chagrin of neighboring European countries, which decided to close their slopes to prevent the further spread of coronavirus cases.

  • in the LondonBig Ben, which has been largely silent in recent years when its clock tower was renovated, was scheduled to ring 12 times at midnight, one of the few standout moments in a country where major celebrations have been canceled. Most Britons were forbidden to socialize with anyone outside their own household. This rule was backed up by a fine of up to £ 1,000 or more than $ 1,300.

  • Madrid The night curfew was eased from midnight to 1:30 a.m., which is usually this early for a night in Spain, but the traditional gathering in Puerta del Sol square has been canceled. People were told to stay home as much as possible, eating the traditional New Years Eve grapes while watching events on television and gathering in groups of no more than six people.

  • And in ParisThe only people roaming the Champs-Élysées – where around 300,000 people gathered for giant fireworks a year ago – were some of the 100,000 police officers stationed across the country to keep crowds from gathering. City officials urged people to watch the electronic music artist Jean-Michel Jarre’s Notre Dame virtual concert, an event that connects the old and the modern, the old and the new year, the pandemic and hope for an end. It would be a message of hope and a “tribute to Notre-Dame who is weakened”, Jarre told the French media, “like all of us”.