| From: Paul Senior | 2/23/2016 11:47:39 AM | | | | | | Perhaps I've been a couple of days slow and late-- I'll nevertheless reenter now for a few shares.
Div + insider buying attracts |
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| From: richardred | 6/14/2016 10:08:17 AM | | | | | | Westlake wins Axiall. IMO OLN has a good amount of speculative appeal built in current price. Even though highly leveraged, If successful, the Dow/Dupont pending merger heightens this aspect. The OLN stake would be an asset they IMO would most likely sell to pay down debt Winchester makes sense to sell off now. Hedge funds have a big bet here at much lower prices.
reuters.com
Westlake Chemical to acquire Axiall for $3.8 bn
14
Jun '16
International petrochemicals manufacturer Westlake Chemical has signed an agreement to acquire the integrated chemicals company Axiall for $33 per share, which comes to approximately $3.8 billion, by the fourth quarter of 2016. The transaction will provide the company with complementary geographic and product positions, better positioning of the company for margin capture and earnings stability, expanded manufacturing presence and a strong combined balance sheet.
Approved by the board of directors of both companies, the transaction will make the company the third largest producer of chlor-alkali in North America.
“This transaction aligns two remarkable companies, creates a company with greater financial and operational flexibility and accelerates our growth strategy,” Albert Chao, president and CEO of Westlake commented on the acquisition.
“We have tremendous respect for Axiall's employees and look forward to working closely with them to achieve these goals,” he added.
The transaction is subject to the approval of Axiall's stockholders and customary closing conditions.
It is an all-cash transaction. (MCJ)
fibre2fashion.com |
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| To: richardred who wrote (130) | 9/29/2016 12:37:29 PM | | From: richardred | | | | Petrobras plans to sell Braskem stake by end-2018 in asset dumpPetrobras is retreating from peripheral businesses
Published: 16:38 September 24, 2016 
Bloomberg
Rio de Janeiro: Petroleo Brasileiro SA plans to sell its stake in petrochemicals producer Braskem SA before the end of 2018 to help fund its business plan and reduce debt, Chief Financial Officer Ivan Monteiro said.
Petrobras, as the Rio de Janeiro-based state-run producer is known, has included the Braskem stake in a plan to raise $19.5 billion through divestitures in 2017 and 2018, and is in the initial phases of the sale process, Monteiro said in an interview on Friday.
“We have intentions to leave this asset, but we don’t have a date,” Monteiro said at one of the company’s offices in downtown Rio.
Petrobras is retreating from peripheral businesses such as biofuels, petrochemicals and fertilisers to focus on its most profitable oil and natural gas projects in deep waters of the South Atlantic. The company is showing investors that it has the ability to meet its asset sale targets after raising almost $10 billion from such deals since the start of 2015, Monteiro said. His comments came on the same day Petrobras agreed to sell a gas distribution unit for $5.2 billion, its biggest asset deal on record.
In October a group of Petrobras officials including Chief Executive Officer Pedro Parente will travel to cities in the US and Europe to meet with equity and fixed income investors to present the business plan and show the progress the company has made in streamlining the business, Monteiro said.
Petrobras is Braskem’s second-largest shareholder, with about 47 per cent of voting stock and 36 per cent of its total capital, according to the petrochemical company’s website.
gulfnews.com |
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| From: Paul Senior | 12/21/2018 3:06:08 PM | | | | | | A caustic stock price for this caustic soda company.
I'll add a bit more to my position now as stock continues down with the sector (industrial chem companies) and market.
Next q expected to be a down quarter per company. Next year to be profitable afaik; dividend intact while waiting for stock to improve. |
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