Profit From A Housing Recovery With Axiall Corporation

Axiall (AXLL) is the result of a somewhat complex deal between PPG Industries (PPG) and Georgia Gulf (GGC). I described the odd lot opportunity in this deal on January 24, but by way of brief background, shareholders in PPG had the opportunity to tender their shares in exchange for shares of GGC at a discount of 11%. The new combined entity of PPG's commodity chemicals business and GGC is now listed as AXLL. For the sake of anyone who participated in the odd lot opportunity, one could have purchased 99 shares of PPG trading at around $144, a cost of $14,256 per account. The exchange ratio was subsequently announced to be 3.2562. Properly tendered...