Back in January 2011, we put out a list on our top 10 takeover candidates for 2011. Three of those companies were taken over by April 2011: Smurfit-Stone Container, Pride International and Lawson Software. That seemed like a pretty good track record. After all, batting .300 put us in some pretty good company.
Late Friday, AT&T announced that it was acquiring Leap Wireless for $15 a share. Back in 2011, we predicted that AT&T would be interested in Leap. We were just 2 1/2 years off in our timing! While the $15 price is nearly double what Leap was trading at prior to Friday’s announcement, Leap shares have way under-performed since we made the pick. Back in January 2011, the shares were trading at just under $14 a share.
Still, we’d like to think that batting .500 is a pretty impressive record, even if it took this long to achieve!