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Meditation on OM

17 June 2015 By Ben Claremon

The $1 bln buyout undervalues the specialty chemicals maker, writes Jeffrey Bronchick, whose Cove Street owns a 1.5 pct stake. The implied price Apollo is paying for the main magnetics unit is just 1.7 times EBITDA. Barring a revolt, a go-shop provision is the last best hope.

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