GRA - W.R. Grace bidder unlikely to go much higher than current bid Monness Crespi says

W.R. Grace (GRA) bidder 40 North, which last week raised its bid for the chemical company to $65/share, is unlikely to boost its offer much higher, Monness Crespi writes.Sees best outcome for W.R. Grace is get a bid from the outside, either a strategic buyer, such as an integrated oil company or a state-owned petroleum company, or a financial buyer, according to analyst Chris Shaw.Expects that unless GRA decides to start a process to sell itself, 40 North will propose a board slate for upcoming elections.W.R. Grace's comments last week seem to imply that results may have returned to pre-pandemic levels, which would suggest a "significant fundamental positive'' for GRA and may imply upside to upcoming results.W.R. Grace remains positive at Monness Crespi, PT $75.Recall Nov. 9, Grace says 40 North buyout bid inadequate, but analysts foresee more offers

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W.R. Grace bidder unlikely to go much higher than current bid, Monness Crespi says