How to find UK takeover targets
This week, I’m introducing a new value screen based on a book that was recently recommended to me by reader Jeff Davies. The book in question (and which I highly recommend to any budding screeners) is The Acquirer’s Multiple by Tobias Carlisle. As its title implies, the book’s “screening” element boils the entire investing process into one simple metric. That, in turn, echoes its author’s philosophy.Carlisle points out that modern markets are very good at sniffing out economic profitability. Unfortunately, the ability to spot companies capable of consistently sustaining high...