HOUSTON, US/ LONDON, UK: LyondellBasell NV (LYB) has entered into a definitive agreement to acquire A Schulman Inc (SHLM), for a total consideration of $2.25 billion.
The acquisition builds upon LyondellBasell's existing platform in this space to create a premier advanced polymer solutions business with broad geographic reach, leading technologies and a diverse product portfolio.
LyondellBasell will purchase 100 percent of A Schulman common stock for $42 per share in cash.
The proposed acquisition has been unanimously approved by the respective boards of LyondellBasell and A Schulman. The deal is expected to close in the second half of 2018.
"The acquisition of A Schulman is a natural extension of our current platform. This combination will allow us to provide our customers with a wider range of innovative solutions while adding the ability to serve high-growth end markets beyond the automotive sector, such as packaging and consumer products, electronics and appliances, building and construction, and agriculture," said Bob Patel, CEO of LyondellBasell.
No comments:
Post a Comment