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Fly News Breaks for February 1, 2016
LYB, WLK, AXLL
Feb 1, 2016 | 06:02 EDT
Citi analyst P.J. Juvekar downgraded Axiall (AXLL) to Neutral saying he's "not willing to wait for a better offer" after the company rejected Westlake Chemical's (WLK) $20 per share buyout proposal. Juvekar does not see another domestic player like LyondellBasell (LYB) making a bid for Axiall, and calls the possibility of a foreign company making a bid small. He keeps a $19 price target for shares of Axiall.
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