SEOUL: Lotte Chemical Corp has made an initial offer to buy US chemicals maker Axiall Corp, coming in as a potential white knight for the US$1.6bil firm that is resisting a takeover attempt by Westlake Chemical Corp.
South Korea’s Lotte Chemical, which is building a US ethylene cracker in a joint venture with Axiall, announced the offer in a regulatory filing yesterday but did not provide any terms.
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