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Hedge funds hot – but not too hot – for Nova Chemicals

Globe and Mail – The hedge fund crowd jumped on Nova Chemicals yesterday, thrilled to invest in a takeover, but pessimistic that a bidding war will begin for the chemical company.

Despite heavy trading yesterday, the price of shares in Nova never came close to the $6 (U.S.) a share cash offer from Abu Dhabi state-owned oil company International Petroleum Investment Co. (IPIC).

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