Reliance Industries Ups Bid for LyondellBasell

Reliance Industries has increased its bid by $1 billion to $14.5 billion for a controlling stake in LyondellBasell, local sources familiar with the situation say. Reliance declined to comment. The offer would give Reliance a minority stake in LyondellBasell but would give the company super-voting power to control LyondellBasell's board, reports say. The revised offer will allow LyondellBasell creditors to opt for cash or equity in the company. The move is partly a response to the announcement by LondellBasell last week that it had agreed to raise its payment to...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers