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Royal Group Technologies

( RYG) surged more than 40% Friday on news the Canadian building-products maker agreed to be acquired by

Georgia Gulf Corp.


in a deal valued around $1.5 billion.

The all-cash transaction represents a 43.5% premium over Royal Group's closing share price on the Toronto Stock Exchange of C$9.06 on Thursday. Royal Group said it has been involved in a sale process since May 25, when its board announced that it would open a data room and solicit bids. More than 30 potential bidders signed confidentiality agreements and were allowed access to the data room, with six receiving management presentations. Shares of Royal Group Technologies climbed $3.49, or 43.6%, to $11.49 in recent trading on the


, while Georgia Gulf slipped $3.65, or 12%, to $26.84 recently.

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