Simmons Sells Georgia Gulf Stocks: A spokesman...

Simmons Sells Georgia Gulf Stocks: A spokesman for Harold C. Simmons said the Texas investor sold his 2.3-million shares of Georgia Gulf Corp. a day after the chemical company announced that its shareholders had approved a recapitalization plan. Simmons, who owned about 10% of the Atlanta-based company, had proposed acquiring the remainder of the company in a $45-a-share tender offer. But the company proposed a competing cash-and-securities package valued at $49.50 a share. Georgia Gulf fell 12.5 cents to close at $43.75 a share on the New York stock exchange.