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Fly News Breaks for February 2, 2016
WLK, AXLL
Feb 2, 2016 | 07:31 EDT
UBS noted Axiall (AXLL) rejected the $20 all cash bid from Westlake Chemical (WLK) and believes the possibility exists for counteroffers, but said bids from other parties are less likely. The firm believes market conditions will remain challenged for Axiall but raised its price target to $16 from $11 to account for a 50% probability of a deal.
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