<article><a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Lotte+Chemical+Corp.">Lotte Chemical Corp.</a> made an offer to buy U.S.-based polyethelene maker <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Axiall+Corp">Axiall Corp</a>. as the South Korean based petrochemical company seeks to build on its takeover of Samsung Group’s chemicals arm.</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Lotte+Chemical+Corp.">Lotte Chemical Corp.</a> made an offer to buy U.S.-based polyethelene maker <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Axiall+Corp">Axiall Corp</a>. as the South Korean based petrochemical company seeks to build on its takeover of Samsung Group’s chemicals arm.
Lotte submitted a plan to acquire Atlanta-based Axiall on June 3, according to a regulatory filing that didn’t give terms of the possible deal. The South Korean company formed a venture with Axiall, which has a market value of $1.6 billion, last year to build a plant for making ethylene in the U.S. with production to start in 2018.
The petrochemical business of South Korea’s Lotte conglomerate is widening its product lines and seeking growth outside the country after announcing the purchase of Samsung Group’s chemicals business for about $2.5 billion. The offer for Axiall adds to pressure on Westlake Chemical Corp. to raise its bid after Axiall rejected its $1.6 billion proposal. Axiall said last month it was in talks with multiple potential buyers as Westlake mounted a proxy fight to oust the board after its bids were refused.
“The acquisition price may go higher as Lotte has to compete with Westlake,” Lee Ji Yeon, analyst at IBK Securities, said on the phone. “In terms of diversifying its business, it’s good news for Lotte.”
Lotte Chemical shares fell 4.1 percent as of 10:38 a.m. in Seoul trading.
A deal valued at more than $1.6 billion would be Lotte Chemical’s largest overseas. The company, formerly named Honam Petrochemical Corp., bought Malaysia-based Titan Chemicals Corp. in a 3.5 billion Malaysian ringgit ($1.1 billion) deal based on enterprise value.
Axiall would expand Lotte Chemical’s products to include polyvinyl chloride and chloro-alkali, while helping secure a foothold in the U.S. market, the South Korean company said Tuesday in a statement.
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<h4 style="text-align: justify;">Bloomberg</h4>

Lotte Chemical Corp. made an offer to buy U.S.-based polyethelene maker Axiall Corp. as it seeks to build on its takeover of Samsung Group’s chemicals arm.

Lotte Chemical makes offer for US-based PVC-maker Axiall

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Lotte Chemical makes offer for US-based PVC-maker Axiall

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