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Business

Axiall invites new Westlake bid

by Marc S. Reisch
May 30, 2016 | A version of this story appeared in Volume 94, Issue 22

After twice rejecting a takeover bid from polyvinyl chloride maker Westlake Chemical, Axiall is opening its “data room” to its rival and is inviting it to make yet another bid by June 3. Axiall turned down a $3.1 billion bid from Westlake in April and a $2.9 billion offer in January. Westlake says it will either reaffirm its earlier bid or submit a higher one by the deadline. But keeping up the pressure, Westlake says it will continue pushing to replace Axiall directors at the latter’s June 17 annual meeting.

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