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Georgia Gulf Corp. Message Board

  • nycwest nycwest Feb 1, 2012 8:39 AM Flag

    GGC REJECTS $35 OFFER - LAWSUIT!

     

    NEW YORK -- February 1, 2012

    Tripp Levy PLLC, a leading national securities law firm, announces that it has been retained to bring a lawsuit concerning potential claims against the board of directors of Georgia Gulf
    Corporation (“Georgia Gulf” or the “Company”) (NYSE: GGC) concerning possible
    breaches of fiduciary duty and other violations of law related to the
    Company’s receipt of a proposal from Westlake Chemical Corporation
    (“Westlake”), to acquire the remainder of the Company it does not already own (the “Proposal”).

    The Proposal contemplates Westlake’s acquisition of all of the outstanding
    shares of common stock of Georgia Gulf for $35.00 per share in cash. Previously, Westlake offered $30 per share, which offer was rejected. Westlake
    already owns approximately 4.8% of the Company’s outstanding shares.

    Even though Westlake increased its offer to $35, GGC has rejected the offer out of hand, thus depriving shareholders of this premium.

    The investigation concerns the board of directors’ process for consideration
    of the proposed transaction, whether Georgia Gulf is acting in its
    shareholders’ best interests by refusing to enter into negotiations with
    Westlake, and whether the proposed consideration to be paid to Georgia Gulf’s
    shareholders would be fair and adequate. According to the Proposal, Georgia
    Gulf’s board of directors has “been unwilling to discuss value or to commence
    negotiations” with Westlake.

    If you own the common stock of Georgia Gulf and would like to learn more about
    these claims, or if you wish to discuss these matters or have any questions
    concerning this announcement or your rights or interests with respect to these
    matters, please contact toll free at 877-772-3975 or email at
    contact@tripplevy.com

    Attorney advertising. Prior results do not guarantee a similar outcome.

    Contact:

    Tripp Levy PLLC
    Tripp Levy, 877-772-3975
    contact@tripplevy.com

    This topic is deleted.
 

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