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IEX - Alfa Laval's Proposed Acquisition Adds Capital Deployment To The List Of Investor Worries
IDEX Corporation
On the whole, I’ve liked Alfa Laval (OTCPK:ALFVY) more than the Street, and that has worked out okay, with the stock more or less performing in line with the S&P and beating its industrial peer group. Now, though, the company has made a controversial decision to pay a high premium to buy its way into the valve market – a decision that, in the short term at least, will only magnify concerns about the company’s exposure to weak end-markets like oil/gas and petrochemicals.
I can understand the long-term argument for acquiring Neles, and