Axiall Corp (NYSE:AXLL) Investor Investigation Concerning Potential Wrongdoing In Connection With The Rejected Acquisition Bid Announced

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Company Name(s): 
Axiall

February 18, 2016 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Axiall Corp (NYSE:AXLL), was announced concerning whether to reject the proposed takeover of Axiall Corp. by Westlake Chemical Corporation at $20.00 per share is unfair to NYSE:AXLL stockholders.

The investigation by a law firm concerns whether certain officers and directors of Axiall Corp breached their fiduciary duties owed to NYSE:AXLL investors by rejecting the proposed acquisition.

On January 29, 2016, Axiall Corporation (NYSE: AXLL) announced that it has rejected an unsolicited and conditional proposal from Westlake Chemical Corporation (NYSE: WLK) to acquire all of the outstanding common shares of Axiall Corporation for a consideration of $20.00 per share in the form of $11.00 in cash and 0.1967 shares of Westlake Chemical Corporation (NYSE: WLK) stock.
However, the investigation concerns whether to reject the takeover offer is unfair to NYSE:AXLL stockholders. More specifically, the investigation concerns whether the Axiall Board of Directors failed maximize shareholder value by rejecting the offer, and failed to act in the shareholders' best interests by rejecting the takeover offer.

Axiall Corp reported that its annual Total Revenue declined from over $4.66 billion in 2013 to over $4.56 billion in 2014 and its Net Income declined from $165.20 million in 2013 to $46.30 million in 2014. Shares of Axiall Corp (NYSE:AXLL) declined from $47.45 per share in February 2015 to as low as $9.17 per share on January 25, 2016.