BHP Billiton (NYSE: BHP) said that it would leave the takeovers alone and use the $80 billion on developing new and existing mines. However, it looks more like BHP will be hunting for new deals within a year's time frame.
Takeover chatter about NYSE Euronext isn't quite over yet. It is rumored that the Nasdaq (NASDAQ: NDAQ) and the Intercontinental Exchange (NYSE: ICE) are in negotiations to make a joint bid for NYSE Euronext (NYSE: NYX).
There are unconfirmed rumors that Sonic Foundry Inc. (NASDAQ: SOFO) will be acquired for $30/share. Sonic Foundry is a thinly traded web communications company.
More unconfirmed rumors have been circulating that International Rectifier Corporation (NYSE: IRF) will be acquired by Texas Instruments (NYSE: TXN) for $50/share. International Rectifier Corporation designs and manufactures power management semiconductors.
When there is increased Mergers & Acquisitions (M&A) activity, the market is usually at a bottom or at a top. Major indices have more than doubled from the lows in March 2009, thus many Wall Street analysts are cautioning investors to buy into this rally. Instead, Andy Kibbens (Co-CEO of The Markets Are Open and Fillmore Capital Asset Management) says it is a good time to be locking in profits and potentially even go short the market. "When the market starts going down, you will regret having not sold the top", he exclaimed.
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