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 firstname.lastname@example.org
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Tripp Levy PLLC Tripp Levy, 877-772-3975 email@example.com