Westlake Chemical Corporation ( WLK - Free Report ) has made an exclusive binding offer to buy the global compounding solutions business, NAKAN, from Los Angeles-based private equity firm, OpenGate Capital. The company expects the transaction to close by early 2019, which is subject to regulatory approvals, completion of necessary employee consultation procedures and other customary closing conditions. Per the terms of the offer (subject to exclusivity protection), Westlake Chemical will pay roughly $265 million in cash that is subject to adjustment.