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Chemical Industry Weekly News Round-Up, Jan. 13
January 13, 2012 | Vincent Valk
This Week on CW: Westlake Chemical has launched a $1.1 billion unsolicited bid for rival vinyls maker Georgia Gulf. The purchase price represents a 51% premium on Georgia’ Gulf’s 30-day volume-weighted average share price of $19.82. Georgia Gulf shares rose 35% in trading this morning, to $33/share, 10% higher than Westlake’s offer. Archer Daniels Midland (ADM) has exited the Telles bioplastics joint venture with Metabolix. The jv, which was formed in 2006, produces plastics based on polyhydroxyalkanoate. Telles started up a 110...
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