For the second time since we launched Smart Investing in Turbulent Times in October 2015, we have a takeover stock in the Buy Low Opportunities Portfolio.
This morning, Westlake Chemical (WLK) announced that it made an offer to buy chemical and building products company and Buy Low Opportunities Portfolio holding Axiall (AXLL) for $1.4 billion, valued at approximately $20 per share. Axiall rejected the offer.
AXLL is up $7.32 this morning at a share price of 17.12.
Please hold your AXLL shares. We often see a second, higher purchase offer materialize in the coming days. There’s no reason to make a quick decision on how to proceed with your stock.
Next week, in the February issue of Smart Investing in Turbulent Times, I’ll talk to you about how to handle merger & acquisition scenarios, using real-life examples of famous companies. In the interim, it’s not too late to send me questions on that topic, so that I can answer them in the February issue.