FMC Corporation may be too ugly to ignore.
FMC is a deeply distressed but misvalued company where the market has priced in near-zero upside while ignoring Pierre Brondeau's proven restructuring track record and credible debt-reduction actions. The company's patent portfolio, manufacturing assets, and Latin American distribution are strategically valuable; a buyer could pay $25–35 per share or 12x EBITDA in an M&A scenario, exploiting the current valuation gap.