Westlake Chemical Provides Update Regarding its Proposal to Acquire Axiall Corporation
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HOUSTON, May 23, 2016 - Westlake Chemical Corporation (NYSE: WLK) today provided the following update regarding its proposal to acquire all of the outstanding shares of Axiall Corporation (NYSE: AXLL):
 • Since Axiall announced on May 4, 2016 that it was considering strategic alternatives, Westlake has sought to engage with Axiall on several occasions with respect to Westlake's proposal to acquire Axiall.
 • On Friday, May 20, 2016, Axiall's CFO advised Westlake's CFO that Axiall had re-opened its data room to Westlake and requested that Westlake submit a revised proposal to acquire Axiall by June 3, 2016.
 • Westlake currently intends to submit a revised proposal, or reaffirm its current proposal, on that date.
• Westlake will continue to proceed with its current proxy contest to replace Axiall's Board in light of the uncertainty as to whether Axiall's announced process to consider strategic alternatives will conclude, if at all, in advance of Axiall's annual meeting on June 17, 2016.
Westlake does not undertake any obligation to comment further on these matters.
Westlake urges Axiall shareholders to vote the GOLD proxy card for the slate of nine independent and highly qualified nominees.
For additional information about Westlake's proposal and slate of directors, please visit www.WestlakeAxiall.AcquisitionProposal.com.
About Westlake Chemical Corporation
Westlake Chemical Corporation is an international manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. The company's range of products includes: ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC suspension and specialty resins and PVC building products including pipe and specialty components, windows, fence, deck and film. For more information, visit the company's Web site at www.westlake.com.
SOURCE Westlake Chemical Corporation
CONTACT: Media Inquiries, Sard Verbinnen Co, Jim Barron / Robin Weinberg, (212) 687-8080, jbarron@sardverb.com / rweinberg@sardverb.com; Investor Inquiries, Westlake Chemical Corp., Steve Bender, (713) 960-9111, or MacKenzie Partners, Dan Burch / Charlie Koons, (212) 929-5708, dburch@mackenziepartners.com / ckoons@mackenziepartners.com
Web Site: www.westlake.com
