Mittal Considering Bid for Alpha Natural Resources

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Mittal Considering Bid for Alpha Natural Resources

By: TraderMark Friday, August 01, 2008 12:08 PM

Sectors: Basic Materials
Symbols: ANR, CLF, MT

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Thanks for a reader for highlighting this to me We so deserve this ;) Somehow we are the only investors in America whose top position lost its value after getting bought out.

If other bidders emerge, Alpha Natural Resources is a massive strong buy for obvious reasons

Folks, I've written multiple times on how I differ with Ken Heebner on playing the steel trend - I've chosen to play the inputs (metallurgical coal/iron ore) versus the actual steel producers where he is overweight. I think both strategies work, but I think the inputs have some inherent advantages as I've written out multiple reasons, including takeover potential. (Jul 6: Is the Buck Finally Stopping in Steel?)

Ironically, I think I've written at least 5 times that I've been amazed that Cleveland Cliffs (CLF) has not been taken over and still remains an independent company. So to see them actually be the acquirer is sort of funny. I still think a combined Cliffs Natural Resources - if the merger goes through - would be a very attractive target for one of the major steel players such as Mittal (MT).

Lo and Behold...

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