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Westlake Raises Bid for Georgia Gulf

9:11 AM MST | February 1, 2012 | Vincent Valk

Westlake has increased its bid for Georgia Gulf by 17%, to $35/share, or about $1.29 billion. Westlake will also pay a portion of the consideration to Georgia Gulf shareholders in Westlake shares, the company says. Westlake has also decided against nominating director candidates at Georgia Gulf’s 2012 annual meeting, “in furtherance of its desire to engage in friendly negotiations,” Westlake says.   “Based on our discussions with a number of Georgia Gulf’s shareholders, we now know that they are very interested in seeing this...

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