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Fly News Breaks for April 6, 2016
CF
Apr 6, 2016 | 06:38 EDT
BofA/Merrill downgraded CF Industries to Neutral saying the proposed merger with Netherlands-based chemical firm OCI is less compelling following the latest Treasury curbs on inversions. CF Industries will most likely continue with the OCI acquisition in order to obtain its new Greenfield plant, the firm's analyst said, but it reduced earnings estimates due to a higher Treasury driven tax rate and potential for lower annual average nitrogen prices. BofA/Merrill has a $36 price target on CF Industries shares.
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