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The asbestos suit is still in litigation with the courts that much is true. As for the threat of bankrupcy the troubled division is out of business and has already declared bankrupcy. The asbestos issue is not directly tied to Grace as a whole. The problem is with a division (the bankrupt one) they acquired from a recent buy out of another company. Their financial strength is still there unless somebody knows something I am missing. If you do please let me know.
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No. of Recommendations: 1
Grace will be fine. They have already set forth the fact that they have 900 mln set aside for asbestos related issues. They further state that they are expecting around 80 mln a year for legal expenses. These are already factored into their forecast.
Buy this stock at firesale prices and watch your money grow. Hopefully, this will come true.
Happy Holidays,
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