April 18, 2011
Wal-Mart acquires social media website Kosmix

Talk about market topping events.

August 20, 2010
INTC purchase of MFE: What a joke

This quote from MarketWatch is exactly what is wrong with M&A:

But perhaps what investors should be most encouraged about is that Intel didn’t just pick a company that had a good product in what it believes is a growing business. Intel bought a company that has something the chip maker doesn’t have — a stock that’s been trending sharply higher for the last 10 years.

If investors are so excited by MFE,  they can just buy some of it.  They don’t need Intel to buy it, creating a big unfocused company, for them.  This is a merger for management, not for investors.

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