Westlake Chemical in Unsolicited Proposal to Acquire Axiall
January 22, 2016
Cleary Gottlieb is representing Westlake Chemical Corporation in connection with its unsolicited proposal to acquire all of the outstanding shares of Axiall Corporation for $20.00 per share, payable in the form of $11.00 in cash and 0.1967 of a share of Westlake common stock, which represented a value of $9.00 based on Westlake’s closing price on January 22, 2016.
Westlake Chemical Corporation is an international manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. The company’s range of products includes: ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC suspension and specialty resins and PVC building products including pipe and specialty components, windows, fence, deck and film.