USA: Transaction Creates Largest LDPE Producer in the Americas Westlake Completes Acquisition of Axiall

Westlake Chemical Corporation has completed the previously announced acquisition of Axiall Corporation. The combined company will be the third-largest chlor-alkali producer and the second-largest polyvinyl chloride (PVC) producer in North America.

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Westlake Chemical

Houston/USA — The acquisition for $ 33.00 per share in an all-cash transaction represents an enterprise value of approximately $ 3.8 billion, including debt and certain other Axiall liabilities.

The combined company will be the third-largest chlor-alkali producer and the second-largest polyvinyl chloride (PVC) producer in North America, with expected combined pro forma revenues of $ 7.4 billion and adjusted Ebitda of $ 1.4 billion for the twelve-month period ended June 30, 2016. The US company expects the transaction to be accretive to its earnings in the first year following close and expects annualized cost synergies of approximately $ 100 million.

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