Investment Guides 

Takeover targets and merger arbitrage

My balance-sheet-based approach to stock picking has the benefit of regularly uncovering investment opportunities that are also potential takeover targets. This is particularly the case when companies are being valued on large discounts to book value even though there are few signs of any financial distress. Rest assured, if my analysis highlights that a company is being miserly rated well below the current value of its assets, and potentially on a far deeper discount to their replacement value, then predators with deep pockets will be doing the same exercise, too.

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