Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Lotte enters a bid for Axiall

by Marc S. Reisch
June 13, 2016 | A version of this story appeared in Volume 94, Issue 24

Vinyl products maker Axiall has a new bidder, Lotte Chemical, a South Korean petrochemical maker that is also Axiall’s partner in an ethylene project planned for Lake Charles, La. The unsolicited bid, reportedly for more than $2.6 billion, was disclosed in a regulatory filing in Seoul, South Korea, and inserts Lotte in the battle for control of the Atlanta-based firm. Westlake Chemical, whose latest $3.1 billion bid Axiall has already turned down as inadequate, is waging a proxy battle to replace Axiall directors at the latter’s June 17 shareholder meeting. In a filing with U.S. authorities, Axiall CEO Timothy Mann Jr. says his firm “has not made any decisions concerning the Lotte offer.”

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.