Georgia Gulf Corp. Investigated by Block & Leviton LLP for Possible Breach of Fiduciary Duties In Rejecting Takeover Offer
Jan 13, 2012, 11:25 ET
BOSTON, Jan. 13, 2012 /PRNewswire/ -- The lawyers at Block & Leviton LLP, a Boston based law firm with experience in representing investors in protecting their rights, is investigating whether the Board of Directors of Georgia Gulf Corp. (NYSE: GGC) breached their duties in rejecting an acquisition offer for all of Georgia Gulf's shares at $30 per share by Westlake Chemical Corp. (NYSE: WLK).
Westlake is offering to purchase all Georgia Gulf shares at a 23% premium to Georgia's closing price yesterday, December 12, 2012. Consensus analyst estimates for the price of Georgia Gulf's stock is a median of $23 per share. According to Westlake's President and Chief Executive Officer, Albert Chao, Georgia Gulf has been unwilling to provide Westlake with customary information to permit Westlake to "explore" the purchase and Georgia Gulf would not "enter into substantive discussions" with Westlake.
If you own stock in Georgia Gulf please contact us to discuss your rights with regard to this transaction or if you have any questions.
Scott Mays, Esq.
Jeffrey C. Block, Esq.
The attorneys at Block & Leviton have more than 50 years of experience in representing individual and institutional investors in shareholder rights actions.
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SOURCE Block & Leviton LLP
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