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This Rumor Pushed Braskem 19.6% Higher in October

TheMotleyFool

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This Rumor Pushed Braskem 19.6% Higher in October

Shares of Brazil's largest chemical manufacturer soared nearly 20% last month after The Wall Street Journal reported that LyondellBasell Industries NV (NYSE: LYB) was in early talks to acquire it. Braskem (NYSE: BAK) was quick to deny the reports, but investors have yet to drain all of the added value from either company's market cap.