MEDA: Interim Report, January-June 2014
Meda to acquire Rottapharm, creating a European specialty pharma leader
We are raising our fair value estimate for Cemex CX to $45 per share from $33 for three reasons. The first is Cemex's attempt to acquire Rinker RIN for $12.8 billion in cash, which we expect to be additive to our valuation. This stems largely from the additional cash flows that we think Cemex can ...
The faltering Chinese real estate market is weighing on globally fungible commodities like iron ore, while improving developed-country construction markets aid regionally priced commodities like cement.
Recent sell-off provides dozens of buying opportunities.
Cemex targets downstream assets in order to protect and expand its valuable upstream assets.
It's worthwhile to keep an eye on these Mexican firms.
The America Movil overhang is less of an issue now.
We don't see the recent share price declines for metals and mining producers as a buying opportunity on average.