Tyco Buys ADCT -- Gain of 73% for Online Portfolio
ADC Telecommunications is a stock in the real-money online portfolio at MoneyTalksNews.com. If the deal goes through, it represents a 73% gain in less than a year.
Tyco Electronics announced this morning that it has signed an agreement to buy ADC Telecommunications for $12.75/share, a 44% premium to yesterday’s closing price of $8.54. The deal is expected to close in the final quarter of 2010.
Tyco said the deal will position the company “as a leading global provider of broadband connectivity products to carrier and enterprise networks around the world.”
ADC Telecom is a stock in my online portfolio. I purchased 1,000 shares at $7.37/share in October of 2009. What brought ADCT to my attention was research I did for this December 2009 story about investing in companies related to the mobile internet, something I consider to be a great investment theme in the years ahead.
If the ADC deal goes through, it will represent a one-year gain of 73%.
When it comes to offering money-related advice, I believe in putting my money where my mouth is. So far my real-money portfolio is doing well – keep an eye on it and see how it progresses. But don’t blindly buy the stocks you see there. These aren’t recommendations: they’re simply a way for me to remain accountable to people – like you – to whom I offer money advice.
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