Westlake Chemical (WLK) Terminates Talks To Acquire Georgia Gulf (GGC)
Tweet
Share
E-mailGet Alerts WLK Hot Sheet
Join SI Premium – FREE
Westlake Chemical (NYSE: WLK) announced that following acquisition discussions with Georgia Gulf's (NYSE: GGC) management under the terms of a confidentiality agreement, it notified Georgia Gulf that Westlake has withdrawn its proposal to acquire all of the outstanding shares of common stock of Georgia Gulf Corporation (GGC) and does not intend to continue to pursue a transaction with Georgia Gulf. The company also stated that it plans to liquidate its holdings of Georgia Gulf common stock as market conditions permit.
Albert Chao, President & CEO of Westlake, stated, "We are disappointed in this result but we continue to work on our previously announced important strategic initiatives as well as to look for other opportunities to grow our business. We believe that we are well-positioned for future success."
Albert Chao, President & CEO of Westlake, stated, "We are disappointed in this result but we continue to work on our previously announced important strategic initiatives as well as to look for other opportunities to grow our business. We believe that we are well-positioned for future success."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Alibabato sell Lingxi Games in more than $2B deal - Reuters
- Acorn Energy acquires remaining 1% stake in OmniMetrix subsidiary
- Evolution Petroleum to buy Midland Basin mineral rights for $16M
Create E-mail Alert Related Categories
Conference Calls, Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
