Westlake Chemical completes acquisition of Axiall Corp.
9/7/2016 11:37:04 AM
Photo courtesy of Westlake Chemical Corp.
Westlake Chemical Corp. completed the acquisition of Axiall Corp. in an all-cash transaction, representing an enterprise value of approximately $3.8 B, 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 B and adjusted EBITDA of $1.4 B for the twelve-month period ended June 30, 2016. Westlake expects the transaction to be accretive to its earnings in the first year following close and expects annualized cost synergies of approximately $100 MM.
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