I don't know if there's any rational way to measure what this is worth on earnings. There's a lot of speculation and a lot of enthusiasm among investors for owning a piece of the NYSE. But reality does eventually set in, and I think that all stocks eventually trade on fundamentals. |
I'm surprised the spread is not larger, given the size of the deal and potential regulatory issues. |
In the context of a better market we would have seen the drug group rally. The negative market psychology is overwhelming. |
Merger deal flow is going to reflect an economic recovery and stock market recovery. They go hand in hand. |
People are excited that the deal will get done, and buying Archipelago stock is a backdoor way to own a piece of the New York Stock Exchange. |
The honeymoon is over. Boston Scientific won the deal, and now the work begins. |
The prices are better on the small deals because they are off the radar screens of the large pools of capital. |
We're beginning to see greater levels of mergers as the economy improves and as executives that have been reticent get more comfortable with their own business. |
We're going to see the same thing happen in technology and telecom. Balance sheet constraints and problems are going to drive a lot of consolidation. |
Who knows where it's going to be when the deal closes. |
You're always happy in a competitive bidding situation. And I don't think it's over yet. |