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4-Traders Homepage  >  Equities  >  Nyse  >  Westlake Chemical Corporation    WLK

WESTLAKE CHEMICAL CORPORATION (WLK)
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Westlake Chemical pulls $1.9 billion offer for Georgia Gulf

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05/04/2012 | 10:45pm CEST

(Reuters) - Commodity chemicals maker Westlake Chemical Corp (>> Westlake Chemical Corporation) said it has withdrawn its $1.9 billion offer to acquire Georgia Gulf Corp (>> Georgia Gulf Corporation), following talks with its smaller peer's management.

(Reuters) - Commodity chemicals maker Westlake Chemical Corp (>> Westlake Chemical Corporation) said it has withdrawn its $1.9 billion offer to acquire Georgia Gulf Corp (>> Georgia Gulf Corporation), following talks with its smaller peer's management.

Shares of Georgia Gulf fell 9 percent to $31.30 in post-market trade on Friday.

Westlake also said it plans to liquidate its holdings of Georgia Gulf common stock as market conditions permit.

The company, in February, had threatened to withdraw its sweetened $1.9 billion offer, or $35 a share, for Georgia Gulf.

"We are disappointed in this result but we continue to work on our previously announced important strategic initiatives," said Westlake Chief Executive Albert Chao.

Shares of Westlake, valued at $3.98 billion, rose 5 percent to $59.78 in after-market trade on Friday.

(Reporting by Sunayan Bhattacharjee in Bangalore; Editing by Saumyadeb Chakrabarty)

Stocks mentioned in the article
ChangeLast1st jan.
WESTLAKE CHEMICAL CORPORATION -2.57% 109.95 Delayed Quote.3.21%
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Financials ($)
Sales 2018 8 640 M
EBIT 2018 1 676 M
Net income 2018 1 115 M
Debt 2018 1 126 M
Yield 2018 0,75%
P/E ratio 2018 12,81
P/E ratio 2019 12,21
EV / Sales 2018 1,78x
EV / Sales 2019 1,62x
Capitalization 14 249 M
Chart WESTLAKE CHEMICAL CORPORAT
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Westlake Chemical Corporat Technical Analysis Chart | WLK | US9604131022 | 4-Traders
Technical analysis trends WESTLAKE CHEMICAL CORPORAT
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 121 $
Spread / Average Target 10%
EPS Revisions
Managers
NameTitle
Albert Yuan Chao President, Chief Executive Officer & Director
James Yuan Chao Chairman
Mark Steven Bender CFO, Treasurer, SVP & Investor Relations Contact
Max L. Lukens Independent Director
Dorothy C. Jenkins Director
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