$58 a share — no! $63 a share — no! $73 a share — oh, sure, might as well, especially in this market. Hats off to Mr. Farman and company for helping the little guys at Union Bank [[UB]] get paid. Still scratching your head about what Mitsubishi UFJ [[MTU]] is thinking? Keep scratching. For more background see both the FT clip below and last week’s “Mitsubishi UFJ Overpaying for UnionBanCal.” As stated then, this is a “safe” acquisition, but one that is even more dubious in terms of shareholder value. Shikataganai (MUFG shareholders just sigh and shrug their shoulders … accept the fact that this is the cost of doing (more) business in the U.S. even in today’s market climate).
FD: No position in any companies mentioned. Gladly with regards to MTU and unfortunately in the case of UB.