Axiall Corp Is A Rare Opportunity: A Look at the Restructuring

I recently wrote a piece about Axiall Corp (NYSE:AXLL) and how the company was undervalued, as investors were focusing too much on the company’s small loss during the first quarter of this year and the market was placing no value on the synergies that the company had gained from its merger with PPG Industries, Inc. (NYSE:PPG)’ chemicals business. Axiall’s merger is set to provide some good long-term earnings synergies, indeed, it has already started contributing to revenues. However, around the same time as the merger was completed, Axiall Corp (NYSE:AXLL) took a charge relating to the restructuring of its own debt,…