Closing date set for merger of Basell, Lyondell

By Lisa Kerner

Charlotte, N.C., Dec. 14 - Lyondell Chemical Co. said Basell AF SCA has set Dec. 20 as the closing date for the merger of the two companies.

The companies entered into an agreement and plan of merger on July 16, according to a Lyondell news release.

As previously reported, Lyondell agreed to be acquired by Basell for $48 per common share in an all-cash transaction valued at some $19 billion including debt.

Lyondell is a Houston-based chemical manufacturing company.

Basell produces polypropylene and advanced polyolefin products. Based in Hoofddorp, the Netherlands, Basell is privately owned by Access Industries.

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