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The reason has to do with one of the other companies involved in the asbestos litigation going bankrupt.

There is a great fear, not unwarranted, that the companies don't even know who is going to sue them over the next 12-15 years as the latency period for the affects of asbestos has been estimated to be around 40 years.

Basically, that's the only reason why Grace's stock price is so low. So, if you know (more than I or anyone else) that Grace can survive the lawsuits intact, it would be a great buy.
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