AASTRA TECHNOLOGIES $37.48 - Toronto symbol AAH

AASTRA TECHNOLOGIES $37.48 (Toronto symbol AAH; TSINetwork Rating: Speculative) (905-760-4200; www.aastra.com; Shares outstanding: 11.8 million; Market cap: $430.6 million; Dividend yield: 2.1%) has jumped over 80% since we recommended it in our last issue.
< br /> The stock surged because Aastra agreed to a friendly takeover offer from business communications products and software rival Mitel Networks (symbol MNW on Toronto).
< br /> Mitel is offering $6.52 U.S. in cash and 3.6 of its common shares for each share of Aastra. Based on today’s price for Mitel stock, the offer is worth $38.60 per Aastra share.
< br /> The stock is now trading below Mitel’s bid. That’s partly because Mitel shares have jumped 47% since the announcement and continue to rise, but it also indicates that investors are not expecting a higher bid from Mitel or another buyer.
< br /> We’ll say more as the takeover continues to develop, but Aastra is now a hold.

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Blue chip stocks are big, well-established, dividend-paying corporations with strong business prospects. These are companies that also have sound management that should be able to make the right moves to keep competing successfully in a changing marketplace.

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One of the sweetest and most profitable pleasures of successful investing is to buy high-quality “value stocks” (or stocks that are reasonably priced, if not cheap, in relation to its sales, earnings or assets), then hold on to them as mainstream investors recognize the value and push up the share price.

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