M&A banker says higher Georgia Gulf bids possible
NEW YORK (MarketWatch) — Telly Zachariades, a partner at investment bank, The Valence Group, said Friday he wouldn’t be surprised to see a higher bid for Georgia Gulf Corp. after larger rival Westlake Chemical Corp. offered a share in cash for the company in a hostile takeover bid. “There may be others that would come spoil the party for Westlake,” Zachariades said in an interview. Overall, mergers and acquisitions in the chemical sector will pick up steam in 2012 because of ample cash on the balance sheet of many larger players, a desire to seek out growth, and pockets of improvement in the global economy, he said.
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