Giant steps

Watts, Mark
September 2007
ICIS Chemical Business;9/24/2007, Vol. 272 Issue 11, p9
Trade Publication
The article reports that Basell Corp. announced that it would buy U.S.-headquartered Lyondell Chemical Co. to create a world-class powerhouse. David Prilutski, vice president of Lyondell Chemical, thinks that the deal would be completed by the end of 2007. Prilutski acknowledges the Middle East's high growth rate and competitive advantage in terms of raw material supplies.


Related Articles

  • Combining Two Events Brings Greater Efficiency.  // Chemical Week;9/20/2006, Vol. 168 Issue 31, p38 

    This article reports that the benefits of merging the European Petrochemical Association's (EPCA) annual and general meetings can be seen from an efficiency standpoint, according to board member David Prilutski, president of Lyondell Chemical. The overall rise in the number of attendees at EPCA...

  • First Lyondell Settlement Close. Kellerhals, Richard // High Yield Report;1/4/2010, Vol. 21 Issue 1, p18 

    The article reports on the settlement sought by Lyondell Chemical for its secured lenders and a committee of unsecured creditors, which sued the company and its lenders over its merger with Basell. Approved by a Manhattan bankruptcy court, the settlement is expected to allow the company, which...

  • A cool $19bn is a good deal. Davis, Nigel // ICIS Chemical Business;7/23/2007, Vol. 272 Issue 4, p10 

    The article focuses on acquisition of Lyondell Chemical Co. by Basell Corp. It reports on advantages enjoyed by Basell after acquisition by paying a premium of $19 billion. It provides Basell with upstream integration in the U.S. and new polyethylene (PE) production capacity. An overview of...

  • Untitled.  // ICIS Chemical Business;11/5/2007, Vol. 272 Issue 17, p12 

    The article offers news briefs related to the chemical industry. Mexico's polyester fiber production has fallen by 50% in the last five years, due to illegal imports of textiles from Asia. The European Commission had cleared Basell Corp.'s proposed $19 billion acquisition of Lyondell Chemical...

  • BLAVATNIK'S NEXT BUY?  // ICIS Chemical Business;7/2/2007, Vol. 2 Issue 73, p10 

    The article speculates whether Len Blavatnik, owner of Basell Corp., will acquire Lyondell Chemical Co. After missing an opportunity to acquire GE Plastics, Blavatnik is believed to have set his eyes on Lyondell's acquisition. It is reported that Lyondell shares fell on the news that Huntsman,...

  • M&A in the Middle? Westervelt, Roberts // Chemical Week;11/7/2007, Vol. 169 Issue 36, p3 

    The author looks at the merger and acquisition (M&A) activity in the chemical industry. He states that M&A activity has slowed in the chemical market due to a credit crunch and the reluctance by banks to fund further big deals. He cites the planned acquisition of Lyondell Chemical by Basell, as...

  • Basell and Lyondell to Take New Name After Merger. Phillips, Kate // Chemical Week;11/7/2007, Vol. 169 Issue 36, p7 

    The article focuses on the proposed merger of Basell and Lyondell Chemical. Basell and Lyondell Chemical will be renamed LyondellBasell Industries, following completion of their proposed merger. Basell agreed to acquire Lyondell in July 2007 for $12.7 billion in an all-cash transaction. The deal...

  • Lyondell Case Is Market's "Days Of Our Lives". Kellerhals, Richard // High Yield Report;3/16/2009, Vol. 20 Issue 11, p18 

    The article deals with a call to investigate the December 2007 merger between Lyondell and Basell. On March 10, 2009, a committee of unsecured creditors stated that the merger gave Lyondell a massive debt load, which resulted to bankruptcy. Meanwhile, ConocoPhillips issued an appeal to a...

  • Going with the Gut? MacFadyen, Ken // Mergers & Acquisitions: The Dealermaker's Journal;Oct2008, Vol. 43 Issue 10, p30 

    The article analyzes the decision of the Delaware's Court of Chancery in the case involving the $12.72 billion sale of Lyondell Chemical Co. to Basell Corp. in July 2007. The court, accordingly, emphasizes the liability of the independent directors of a target company in a case of a breach of...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics