Simmons Won’t Pursue Georgia Gulf: Investor Harold...
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From Times Staff and Wire Reports
Simmons Won’t Pursue Georgia Gulf: Investor Harold C. Simmons ended his $1.1-billion tender offer for Georgia Gulf Corp. and ended a planned proxy fight for control of the chemical company’s board. A spokesman for Simmons’ NL Industries Inc. said he will back a Georgia-Pacific recapitalization plan at its April 19 annual meeting. However, he said, NL--which owns almost 10% of Georgia Gulf’s stock--may launch a new tender offer if shareholders reject the recapitalization plan.
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