Recapitalization May Be Option for Georgia Gulf
From Associated Press
ATLANTA —
Georgia Gulf Corp. said Tuesday it was considering a debt-financed recapitalization, a defensive move against NL Industries Inc.’s unsolicited $1.1-billion bid to buy the chemical manufacturer.
Georgia Gulf said in a vaguely worded statement that it had decided a recapitalization was the best way for the company to benefit its stockholders.
The company did not disclose any details of its plans. It said a special shareholders meeting would be called once arrangements were made.
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