Lyondell shareholders OK merger with Basell

By Lisa Kerner

Charlotte, N.C., Nov. 20 - Lyondell Chemical Co. said holders of 65.8% of its outstanding shares voted in favor of the company's merger with Basell AF and BIL Acquisition Holdings Ltd. at a special meeting on Tuesday.

Approximately 66.2% of Lyondell's outstanding shares were represented at the meeting, according to a company news release.

The transaction is expected to close on or about Dec. 20.

On July 17, 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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