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Message| (707)   Nova Chemicals Corp. (NCX), which has seen its
shares climb roughly C$5 in the past month, climbed again on
Tuesday after Lyondell Chemical Co. (LYO) received a
US$12.1-billion cash offer from its Dutch rival Basell.  Shares
of other petrochemical producers like Dow Chemical Co. (DOW),
also jumped on the transaction.  Private equity group Harbinger
Capital’s disclosure that it has acquired a 6% stake in
Lydondell serves as a recognition of value in the sector,
Canaccord Adams analyst Bob Hastings said in a research note.
This could fuel takeover speculation, and boost share prices
across the sector.  He continues to rate Nova Chemical shares a
“buy” with a US$50 price target, which does reflect some
potential for a takeover. However, he thinks a buyout would come
in at US$53 per share given recent transactions, or higher if a
bid is based on rising replacement costs.  NCX 1-yr chart:  NCX
1-yr chart  Source: Lyondell Takeover Pu