M&A helps some stocks avoid the downdraft

Posted by: Aaron Pressman on March 13, 2007

Been paying attention to those lists of takeover candidates? Stocks that best escaped today’s market swoon are those in play. Suffering homebuilder WCI Communities (Symbol: WCI) is up 15% to a new 52-week high on a tender offer from Carl Icahn. Arizona-based real estate investment trust Spirit Finance (SFC) is up 11% and also at a new high on a takeover offer from Macquarie Bank and others. And Cadbury Schweppes ADRs (CSG) jumped 10% to a new high on news that old friend Nelson Peltz (of Wendy’s and Heinz fame) purchased a small stake. Kinder Morgan Energy (KMP), going private in a few months, is also steady and hitting a new 52-week high.

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Bloomberg Businessweek’s Ben Steverman focuses on the latest moves in financial markets and emerging trends in stocks, bonds, and funds, always with an eye toward giving readers a better understanding of the sometimes confusing and often chaotic world of money. Standard & Poor’s senior index analyst Howard Silverblatt will also provide his take on companies’ finances and the markets. Voted one of the “Top 100 Finance Blogs” in 2007.

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