Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Nyse  >  Westlake Chemical Corporation    WLK   US9604131022

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Westlake Chemical pulls $1.9 billion offer for Georgia Gulf

05/04/2012 | 04:45pm US/Eastern

(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 Westlake Chemical Corporation) said it has withdrawn its $1.9 billion offer to acquire Georgia Gulf Corp (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 Westlake Chemical Corporation) said it has withdrawn its $1.9 billion offer to acquire Georgia Gulf Corp (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)

React to this article
Latest news on WESTLAKE CHEMICAL CORPORAT
06/04 WESTLAKE CHEMICAL : INEOS ChlorVinyls completes sale of interest in Suzhou Huasu..
06/04 WESTLAKE CHEMICAL : Reports Acquisition of Additional Interest in Suzhou Huasu P..
06/03 WESTLAKE CHEMICAL : Acquires Additional Interest in Suzhou Huasu Plastics Compan..
06/01 WESTLAKE CHEMICAL : Acquires Additional Interest in Suzhou Huasu Plastics Compan..
06/01 WESTLAKE CHEMICAL : INEOS ChlorVinyls Completes Sale of Interest in China'S Suzh..
05/27 WESTLAKE CHEMICAL CORPORATION : ex-dividend day
05/18 WESTLAKE CHEMICAL : Announces Quarterly Dividend
05/15 WESTLAKE CHEMICAL : Reports First Quarter Earnings
05/06 WESTLAKE CHEMICAL : Management's Discussion and Analysis of Financial Condition ..
05/06 WESTLAKE CHEMICAL PARTNERS : Announces First Quarter Earnings
Advertisement
Chart
Duration : Period :
Westlake Chemical Corporat Technical Analysis Chart | WLK | US9604131022 | 4-Traders
Income Statement Evolution
More Financials