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Metal Bulletin - Acquires US equity research house

August 2004

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Following its blueprint of buying businesses for cash rather than shares as well as setting ambitious earnout targets, Metal Bulletin has announced the acquisition of Avalon Research.  Avalon is an independent equity research house which provides analysis of US quoted companies and generates income based on broking commission from its ideas. It will strengthen Metal Bulletin's largest business, Montreal-based BCA, which publishes economic research house and fundamental research including emerging markets, currencies and bonds and creates an opportunity to cross sell and to turn Avalon to a subscription rather than transactional model. Metal Bulletin is paying up to £11.4m for Avalon. This is split as a &poun ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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