Casket maker Hillenbrand agrees to buy manufacturer K-Tron International for about $433M
The TDBU bought 840 shares of KTII on Mar 2, 2009 at $54. With a buyout price of $150, this represents a gain of 177% in less than a year. We think this is a fair price for K-Tron and inevitable given the age of Ed Cloues and his large equity stake.
This is the third stock in the portfolio to be acquired so far. The other two were Telemig Celluar and Odyssey RE.
Wednesday, January 13, 2010
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