Westlake Chemical Corp. withdrew its unsolicited $1.2 billion bid to buy Georgia Gulf Corp., North America’s largest maker of vinyl construction products, after the sweetened offer was rejected as too low.
Westlake Chemical Corp., the U.S. plastics maker controlled by the Chao family, made a $1.03 billion unsolicited offer for Georgia Gulf Corp. to expand into vinyl construction products such as siding and window frames.
Dow Chemical Co., the chemical producer eliminating 2,400 jobs to cope with a slowing economy, reported better-than-expected third-quarter earnings as volumes rose and plastics output benefited from low-cost natural gas.
Dow Chemical Co . and other ethylene producers will obtain higher prices as China Petrochemical Corp. cuts chemical output to bolster domestic fuel supplies, said an analyst at Alembic Global Advisors.
Westlake Chemical Corp., the U.S. plastics maker controlled by the billionaire Chao family, separated its ethylene assets into a tax-advantaged partnership in which it plans to sell shares to the public.
Dow Chemical Co., the largest U.S. chemical maker, posted better-than-expected profit for the first quarter after its plastics unit sold out and sales volumes increased at the company’s paints-ingredients business.