Highlights Board’s Focus on Delivering Full and Fair Value
for All Axiall Stockholders
Outlines Facts Supporting Board’s Belief That Westlake’s Proposal Is Inadequate and Opportunistic
Recommends Stockholders Vote the WHITE Proxy Card “FOR” All Nine
of Axiall’s Highly Qualified and Experienced Directors
ATLANTA – May 9, 2016 – Axiall Corporation (NYSE: AXLL) today announced that it has filed an investor presentation with the SEC in connection with its 2016 annual meeting of stockholders to be held on June 17, 2016. Axiall stockholders of record as of the close of business on May 4, 2016 will be entitled to vote at the annual meeting.
The investor presentation details how the Axiall Board of Directors is focused on delivering full and fair value for all stockholders, the Board’s efforts to engage in meaningful discussions with Westlake and other third parties and the bases for the Board’s beliefs that Westlake’s proposal significantly undervalues Axiall's high quality assets, the company’s growth potential and the synergies available in a potential combination and that Westlake’s fundamentals are deteriorating and risky. The presentation further outlines Axiall’s beliefs that changing the Axiall Board now will delay the strategic process, as new directors would be essentially starting over, and that the addition of directors nominated and compensated by Westlake could have a chilling effect on other parties in the process. Axiall has made the presentation available on its investor relations page, as well as at www.axiall.com/2016-Annual-Meeting.
The Axiall Board of Directors strongly recommends that stockholders vote on the WHITE proxy card “FOR” all nine of Axiall’s highly qualified and experienced directors: William L. Mansfield (Independent Chairman), T. Kevin DeNicola, Patrick J. Fleming, Robert M. Gervis, Victoria F. Haynes, Timothy Mann, Jr., Michael H. McGarry, Mark L. Noetzel and David N. Weinstein.