Jones Day Reps Georgia Gulf In $2B Buy Of PPG Division

Law360, New York (July 19, 2012, 2:15 PM EDT) -- Atlanta-based chemical maker Georgia Gulf Corp. has agreed to acquire the lucrative commodity chemicals business of PPG Industries Inc. for more than $2 billion, the companies announced Thursday.

Georgia Gulf, a leading North American manufacturer of chlorovinyls and aromatics chemical lines, will acquire the PPG division through a so-called Reverse Morris Trust transaction. The deal agreement calls for PPG to form a new company by spinning off or splitting off its commodity chemicals business. That company will immediately merge with Georgia Gulf or one of its...
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