(Reuters) - Dutch-based Basell is owned by billionaire industrialist Len Blavatnik's Access Industries, which has been on the prowl for acquisitions in the chemical sector and recently lost out in bids to acquire Huntsman Corp. and General Electric Co.'s GE Plastics.
The all-cash deal for $48 a share offers shareholders of Lyondell a 19.6 percent premium to Monday's closing price of $40.12 and a 45 percent premium to Lyondell's closing price on May 10, when Access acquired the right to buy an 8 percent stake in Lyondell and said it might seek to buy the whole company.
Read more at Reuters.com Mergers News
The all-cash deal for $48 a share offers shareholders of Lyondell a 19.6 percent premium to Monday's closing price of $40.12 and a 45 percent premium to Lyondell's closing price on May 10, when Access acquired the right to buy an 8 percent stake in Lyondell and said it might seek to buy the whole company.
Read more at Reuters.com Mergers News
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