Westlake Ditches Attempts To Acquire Georgia Gulf

Law360, New York (May 4, 2012, 6:28 PM EDT) -- Texas-based Westlake Chemical Corp. on Friday announced that it has abandoned its efforts to acquire Georgia Gulf Corp. for $1.9 billion, after months of repeated rejections from the chemical manufacturer.

Westlake in September began trying to woo Georgia Gulf, which produces chlorovinyls, aromatics and other vinyl-based products. In January, it announced a $30-per-share offer, then in February upped its proposal to $35 per share, or $1.9 billion.

"We are disappointed in this result, but we continue to work on our previously announced important strategic initiatives as...
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