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Fly News Breaks for February 16, 2018
LYB, SHLM
Feb 16, 2018 | 09:34 EDT
As reported earlier, Longbow analyst Dmitry Silversteyn downgraded A. Schulman (SHLM) to Neutral from Buy after the company's stock price rose above LyondellBasell's (LYB) offer price. The analyst believes that investors' expectations of a higher bid may go unfulfilled and the upside in the stock price is limited, as any competing bid would have to top LyondellBasell's by at least $2 to compensate for the associated $50M break-up fee.
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