Nothing like a market that instantly rewards companies that acquire other companies. Watson Pharma's (WPI) going crazy today because it is buying Actavis, a generic-drug maker that was off everybody's radar screen.
Or how about Zynga (ZNGA)? How much does everyone love Draw Something? You mean you never heard of it? You never heard of OMGPOP, which they just stole for $200 million? I am now seeing this company for what it is worth: world domination of the hot games out there.
Or how about yesterday when Williams Companies (WMB) roared when it bought Caiman Eastern Midstream! Again, a public company buys something we don't know, we put two and two together, we give them the benefit of the doubt and voila, wealth creation.
Or UPS (UPS)? How about that company buying a competitor in Europe on what might be the cusp of a really serious recession? What happens? The stock goes to a 52-week high.
Or how about On Assignment (ASGN), a professional staffing company, buying an information technology employment company and instantly adding 20% to its valuation!
I hope American companies recognize this trend for what it is: If you buy you can fly. Still another reason to like this market.
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