LYB Stock Price – LyondellBasell Industries N.V. Cl A Stock Quote (U.S.: NYSE)


LyondellBasell to acquire A. Schulman in deal valued at $2.25 billion

LyondellBasell Industries NV said Thursday it has reached an agreement to acquire plastics maker A. Schulman Inc. in a deal valued at $2.25 billion. The deal “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,” the plastics, chemicals and reining company said in a statement. Under the terms of the agreement, A. Schulman shareholders will receive $42 per share in cash and one contingent value right per share. The combined entity will have revenue of $4.6 billion and is expected to generate run-rate cost synergies of $150 million within two years of closing and to boost earnings within the first year. The deal is expected to close in the second half. A. Schulman shares jumped 9% premarket on the news, and are up 15% in the last 12 months, matching the S&P 500’s gain.




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