Our top stock picks seem to attract way more than an average number of takeover bids. We think this is because we zero in on a company’s earnings potential, rather than basing decisions on predictions for next year’s earnings.
Corporate buyers and big investors usually see things the same way. Many investors tell us that until they began following our advice, they never had the pleasure of watching a stock they own jump 25% in a few days, due to takeover news.
Though we’re used to takeovers, we’ve seen more of our top stock picks attract takeover bids in the past few weeks than at any other time in our history. Here’s a recap:
The takeover parade started on September 24, when Nunavut Ore Holdings L.P. launched a hostile takeover bid for little-known Baffinland Iron Mines (symbol BIM on Toronto). We had recommended Baffinland as one of our top stock picks just weeks before, in a September 10, 2010, Stock Pickers Digest hotline. At the time, the shares were trading at $0.68.
Nunavut Ore’s bid was followed by a friendly, $1.25-a-share takeover offer from steelmaking giant ArcelorMittal. Not to be outdone, Nunavut Ore sweetened its bid, offering $1.40 a share for Baffinland. As a result, the stock now trades at $1.35, up 98.5% from our September 10 recommendation.
Weeks later, on November 22, Scotiabank (symbol BNS on Toronto), announced that it will buy the 82% of DundeeWealth (symbol DW on Toronto) that it doesn’t already own. We had issued a “buy” recommendation on DundeeWealth in an October 8, 2010, Stock Pickers Digest Hotline, at $15.11. The news caused DundeeWealth’s shares to shoot up to their current $21.56 — for a 42.7% gain in 6 weeks!
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On November 25, just three days after the DundeeWealth takeover was announced, Del Monte Foods (symbol DLM on New York) accepted a $19.00-a-share takeover offer from a private investor group. We had recommended Del Monte at $13 a share in the October 2010 issue of Wall Street Stock Forecaster, our newsletter for investing in U.S. stock picks.
The company has until January 8 to find a better offer. Otherwise, the deal should close in March 2011. Meanwhile, Del Monte is trading at $18.79. That’s a 44.5% gain!
The hits kept right on coming when another of our top stock picks, Verigy Inc. (Nasdaq symbol VRGY) received an unsolicited, $12.15-a-share offer from Japan-based Advantest on December 7, 2010. On December 23, 2010, Advantest raised its offer to $15.00 a share. We had recommended Verigy in the October issue of Stock Pickers Digest at $8.28. The takeover news sent the stock up to its current $12.99, for a gain of 56.9%.
We expect this string of takeovers to extend well into 2011. If you hold the right undervalued stock picks at this most opportune time, you could put yourself in position for big gains.
To give yourself the greatest potential for profit, you should join my Inner Circle service. When you do, you get all 4 of our newsletters (The Successful Investor, Stock Pickers Digest, Wall Street Stock Forecaster and Canadian Wealth Advisor) for one low price. And, more important, you get to ask me and my team of investment experts your own investment questions. Click here to learn more.
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