Westlake Chemical offered to acquire Georgia Gulf Corp for about $1.03 billion in cash, as the commodity chemicals maker looks to expand its offerings globally. Westlake Chemical has offered to purchase Georgia Gulf for $30 per share, a 23 percent premium to the stock's Thursday close on the New York Stock Exchange.
Georgia Gulf Corporation is a manufacturer and international marketer of two integrated chemical product lines, chlorovinyls and aromatics. Shares of GGC traded higher by 36.56% or $8.95/share to $33.43. In the past year, the shares have traded as low as $12.19 and as high as $40.59. On average, 473436 shares of GGC exchange hands on a given day and today's volume is recorded at 1333477.
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