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Chemtura says its board of directors has decided to end its pursuit of a sale, merger, or other business combination after determining that the price was unlikely to be high enough. In December, the firm announced that it had hired Merrill Lynch to help it explore strategic alternatives including a sale or merger. Chemtura says it will continue as a stand-alone operation but will keep exploring options such as business sales, joint ventures, and a stock repurchase program.
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