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Cramer on BloggingStocks: Europe is starting to eye U.S. gems

 May 08, 2008 09:00 AM UTC
Return Risk
+2.19% MID
Tracked Blogger
Symbol Sentiment Start Return Closed
RMD Positive 05/08/08 +27.84% --
WG Positive 05/08/08 -61.12% --
HNZ Positive 05/08/08 +8.80% 08/07/08
AGN Positive 05/08/08 +9.67% --
S Positive 05/08/08 -14.76% 06/24/08
DT Positive 05/08/08 -13.90% --
DRS Positive 05/08/08 n/a --
C Positive 05/08/08 -30.42% 06/27/08
UL Positive 05/08/08 -18.55% 08/07/08

Graphic_arrow1 Via BloggingStocks:  

Filed under: Deals, Market matters, Allergan (AGN), Citigroup Inc. (C), Sprint Nextel Corp (S), Unilever ADR (UL), Stocks to Buy, Cramer on BloggingStocks

TheStreet.com's Jim Cramer says the exchange rate plus massive undervaluations make the great brands prime targets.

There's always been a groupthink in Europe about currencies. The companies that want to buy American companies have, at times, seemed to care more about the currency, or at least not buying a company in a country whose currency is in decline, than they care about the actual target.

That's what it looks like now that a large German company and now a large Italian company have decided to start splurging. It is no coincidence that Deutsche Tel (NYSE: DT) (Cramer's Take) and Finmeccanica are exploring Sprint (NYSE: S) (Cramer's Take) and DRS (NYSE: DRS) (Cramer's Take). These companies are selling for something like 40% off for those bearing euros, and neither potential acquirer has debt problems or subprime issues, so the deals don't have big borrowing problems.

That's what I am thinking about when I see the better-than-expected figures today from Unilever (NYSE: UL) (Cramer's Take) and the other day from Nestle. These companies are part of that same groupthink. They are looking, no doubt, at a Heinz (NYSE: HNZ) (Cramer's Take) and thinking, "Wait, that's about a $10 billion company that's a global leader."

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