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 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.