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News Breaks | | | | January 28, 2013 | | 08:58 EDT |  | PPG, GGC | PPG Industries sees closing of separation of commodity chemicals business today
PPG Industries (PPG) announced the preliminary results of its exchange offer for PPG common stock in connection with the previously announced separation of PPG’s commodity chemicals business and the merger of Eagle Spinco, the PPG subsidiary holding its commodity chemicals business, with a subsidiary of Georgia Gulf Corporation (GGC). PPG intends to accept shares tendered in the exchange offer, subject to proration, and expects the closing of the merger to occur immediately thereafter later today, following the satisfaction of all closing conditions. Upon the completion of the merger, the combined company formed by uniting Georgia Gulf with PPG’s commodity chemicals business will be named Axiall Corporation and will be traded on the New York Stock Exchange under the ticker symbol "AXLL." Following the closing of the merger, each share of Eagle Spinco common stock will automatically be converted into the right to receive one share of Georgia Gulf common stock. As a result, PPG shareholders who tendered their shares of PPG common stock as part of the exchange offer will own 3.2562 shares of Georgia Gulf common stock for each share of PPG common stock accepted for exchange. Because more than 10,825,227 shares of PPG common stock were tendered, following the anticipated closing of the merger, all shares of Eagle Spinco common stock owned by PPG will be distributed in the exchange offer, and no shares of Eagle Spinco common stock will be distributed as a pro rata dividend. | |
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News For PPG;GGC From The Last 14 Days Check below for free stories on PPG;GGC the last two weeks. |
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| June 14, 2013 | | 07:18 EDT |  | PPG | Deutsche Bank to host a conference
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