HOOFDDORP, the Netherlands - Basell and Lyondell Chemical Co. of Houston have signed a definitive agreement in which Basell will acquire Lyondell’s outstanding common shares for $48 per share. The all-cash transaction has a total enterprise value of approximately $19 billion, including the assumption of debt.
The transaction has been unanimously approved by the Boards of Directors of Basell and Lyondell. 2006 combined revenues for the two companies were approximately $34 billion. Together, they employ 15,000 people around the world.