US Westlake wins takeover of Axiall
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, US Westlake Chemical Corp reached a deal for the acquisition of Axiall Corp. for $2.33 billion while the deal has an enterprise value of about $3.8 billion, including debt and other liabilities.
Previously, South Korea’s Lotte Chemical also gave a bid of more than $3.1 billion, including debt and other liabilities, for the acquisition of Axiall, although the company announced on June 10 that they withdrew their bid.
The deal is expected to be closed in the fourth quarter of this year. Through this acquisition, Westlake expects to save around $100 million in costs.
Previously, South Korea’s Lotte Chemical also gave a bid of more than $3.1 billion, including debt and other liabilities, for the acquisition of Axiall, although the company announced on June 10 that they withdrew their bid.
The deal is expected to be closed in the fourth quarter of this year. Through this acquisition, Westlake expects to save around $100 million in costs.
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