Westlake Chemical buying Axiall for $2.33 billion

NEW YORK (AP) — Westlake Chemical Corp. has agreed to buy Axiall Corp. for about $2.33 billion, ending a months-long takeover battle and creating a top producer of chemicals including chlorine and plastics.

Houston-based Westlake will pay $33 per share in cash for Atlanta-based Axiall, marking a 28 percent premium to its closing price on Thursday.

Houston-based Westlake Chemical Corp. makes chemicals used in food packaging, trash bags and other products.