PPG Industries, Inc (PPG)

[johnsyn]

8:11 AM PPG Industries (PPG) plans to separate its commodity chemicals business and merge it with Georgia Gulf (GGC) in a cash-and-stock deal worth $2.1B. PPG shareholders will receive 50.5% of the shares of the merged company. whose yearly revenue is projected at ~$5B. The deal is expected to close late this year or early 2013. PPG +1.6%, GGC +13.7% premarket.