Westlake Chemical Acquires Axiall for $3.8 Billion

Cleary Gottlieb has been representing Westlake Chemical Corporation in connection with its unsolicited proposal to acquire Axiall Corporation and the related proxy contest to replace the Axiall board of directors.

Westlake Chemical announced today that it has entered into a definitive agreement under which it will acquire all of the outstanding shares of Axiall for $33.00 per share in an all-cash transaction, representing an enterprise value of approximately $3.8 billion.