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Cemex (NYSE:CX) finally achieves it great ambition of becoming the world’s largest cement company by market capitalization with its acquisition of Rinker (RIN). Holcim and Lafarge slip behind Cemex.

Cemex is still cheap in my opinion, and will wrench cost savings out of Rinker. The US authorities have already passed on the deal, telling Cemex what they must divest. The market rendered its own verdict, sending both Rinker and Cemex up in price. That’s a good sign for the future.

Tuesday was another good day for me, with Cemex leading the pace, followed by Bronco Driling and Anadarko. Trailing the pack were Dow Chemical, Tsakos Energy Navigation, and Komag.

Full disclosure: Long CX LR BRNC APC DOW TNP KOMG

CX 1-yr chart:

cx

Source: Cemex Cements Its Deal - And The Stock's Still Cheap