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Chemical Finance Digest, Jan. 9-13
2:55 PM MST | January 16, 2012 | Vincent Valk
Topping the headlines last week, Westlake has made a $1.1 billion unsolicited bid to by rival vinyls maker Georgia Gulf. The bid values Georgia Gulf at $30/share, 22% higher than the company’s closing price on January 12. It would create the second-largest U.S. PVC producer, behind Shintech. Georgia Gulf shares closed at $33 on Friday, after news of the takeover offer. In other M&A news, Toray has bought out Arkema’s stake in Société des Fibres de Carbone, a French carbon fibers maker. Arkema had previously held a 30% stake in the...
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