Dow jumped up 237 (closing at the highs), advancers over decliners 5-2 & NAZ added 56. The MLP index recovered a very big 11 to the 316s & the REIT index went up 3+ to the 313s. Junk bond funds were mixed & Treasuries rose on increased demand for this safe-haven investment. Oil finally found buyers & gold only inched higher amid increased security concerns around the globe.
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif?0.2789922981326075)
Liberty Global (LBTYA) agreed to buy Cable & Wireless Communications CWC) in a cash-&-stock transaction valued at €3.5B ($5.3B), extending the European cable empire deeper into Latin America with an eye for more deals in the region. The deal represents a multiple of 10.7 times CWC adjusted annual earnings before interest, depreciation, taxes & amortization, after taking into consideration cost synergies. CWC shareholders will get a special 3 pence a share div at the deal’s close. The transaction is valued at 78.04 pence per CWC share. The purchase would give LBTYA a critical mass in Latin America. CWC, which also owns a network in the Seychelles, received more than ½ of its $1.75B in revenue last year from Panama & the Caribbean.
Marriott is buying Starwood Hotels & Resorts for 12.2B to create the world’s largest hotel company, emerging as the surprise winner of a bidding war. Marriott offered to pay $2 a share in cash & 0.92 of its own stock. The combined company will operate or franchise more than 5½K hotels with 1.1M rooms worldwide. The total estimated value of the deal to HOT investors is 79.88 a share, including $.80 a share for HOT timeshare business. Shareholder & regulatory approvals are & needed, & the acquisition is expected to close next year. MAR stock rose 98¢ & HOT stock pulled back 2.72. If you would like to learn more about MAR, click on this link:
club.ino.com/trend/analysis/stock/MAR?a_aid=CD3289&a_bid=6ae5b6f7
Constellation Brands agreed to acquire Ballast Point Brewing & Spirits for $1B to add a line of craft brews to its beer portfolio. The deal is expected to be completed this year & will be financed with cash & debt. The takeover will be neutral to STZ profit in its current fiscal year & will add about 6¢ to EPS in the following year. Ballast Point’s sales volume is expected to double to almost 4M cases this year, with net sales hitting $115M. Ballast Point has an avid following among beer enthusiasts. The brewer's Sculpin, an American India pale ale, is rated world class on the BeerAdvocate website, a popular forum for beer lovers. The company sells its beer in 30 states & 10 countries. The deal values Ballast Point at a mid- to high-teens multiple of its earnings before interest, taxes, depreciation & amortization, STZ said. STZ stock went up 3.06. If you would like to learn more about STZ, click on this link:
club.ino.com/trend/analysis/stock/STZ?a_aid=CD3289&a_bid=6ae5b6f7
In an increasingly uncertain world, acquisition news brought out buyers. Dow futures were hit with selling last night, but those concerns faded away today. Given the severity of the attacks in Paris, buying today may prove premature. Dow is down 200 in Nov following its stellar gain in Oct.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
| CLZ15.NYM | ....Crude Oil Dec 15 | ....42.12 |  ...1.38 | (3.4%) |
Liberty Global (LBTYA) agreed to buy Cable & Wireless Communications CWC) in a cash-&-stock transaction valued at €3.5B ($5.3B), extending the European cable empire deeper into Latin America with an eye for more deals in the region. The deal represents a multiple of 10.7 times CWC adjusted annual earnings before interest, depreciation, taxes & amortization, after taking into consideration cost synergies. CWC shareholders will get a special 3 pence a share div at the deal’s close. The transaction is valued at 78.04 pence per CWC share. The purchase would give LBTYA a critical mass in Latin America. CWC, which also owns a network in the Seychelles, received more than ½ of its $1.75B in revenue last year from Panama & the Caribbean.
Liberty Global to Buy Cable & Wireless in $5.3 Billion Deal
Marriott is buying Starwood Hotels & Resorts for 12.2B to create the world’s largest hotel company, emerging as the surprise winner of a bidding war. Marriott offered to pay $2 a share in cash & 0.92 of its own stock. The combined company will operate or franchise more than 5½K hotels with 1.1M rooms worldwide. The total estimated value of the deal to HOT investors is 79.88 a share, including $.80 a share for HOT timeshare business. Shareholder & regulatory approvals are & needed, & the acquisition is expected to close next year. MAR stock rose 98¢ & HOT stock pulled back 2.72. If you would like to learn more about MAR, click on this link:
club.ino.com/trend/analysis/stock/MAR?a_aid=CD3289&a_bid=6ae5b6f7
Marriott Buying Starwood in Deal Valued at $12.2 Billion
Marriott (MAR)
Constellation Brands agreed to acquire Ballast Point Brewing & Spirits for $1B to add a line of craft brews to its beer portfolio. The deal is expected to be completed this year & will be financed with cash & debt. The takeover will be neutral to STZ profit in its current fiscal year & will add about 6¢ to EPS in the following year. Ballast Point’s sales volume is expected to double to almost 4M cases this year, with net sales hitting $115M. Ballast Point has an avid following among beer enthusiasts. The brewer's Sculpin, an American India pale ale, is rated world class on the BeerAdvocate website, a popular forum for beer lovers. The company sells its beer in 30 states & 10 countries. The deal values Ballast Point at a mid- to high-teens multiple of its earnings before interest, taxes, depreciation & amortization, STZ said. STZ stock went up 3.06. If you would like to learn more about STZ, click on this link:
club.ino.com/trend/analysis/stock/STZ?a_aid=CD3289&a_bid=6ae5b6f7
Constellation to Buy Ballast Point Brewing for $1 Billion
Constellation Brands (STZ)
In an increasingly uncertain world, acquisition news brought out buyers. Dow futures were hit with selling last night, but those concerns faded away today. Given the severity of the attacks in Paris, buying today may prove premature. Dow is down 200 in Nov following its stellar gain in Oct.
Dow Jones Industrials
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