Transaction makes Progress after FTC grants “Early Terminationof Waiting Period”
Plastics, chemicals and refining products supplier LyondellBasell [NYSE: LYB] (Houston, Texas – United States) said it has cleared one hurdle in the announced acquistion of A. Schulman, Inc. [NASDAQ: SHLM] (Akron, Ohio – United States), the supplier and distributor of high-performance plastic compounds, composites and powders. Yesterday the Federal Trade Commission (“FTC”) granted early termination of the waiting period under the so-called Hart-Scott-Rodino Antitrust Improvements act of 1976 (“HSR”).
The definitive agreement, announced in February (see DistriConsult News Item posted on 19. February), under which LyondellBasell will acquire A. Schulman for a total consideration of USD 2.25 bn, has other customary closing conditions, which still have to be met. One is the approval by A. Schulman, Inc. shareholders. Other regulatory clearances and approval are also still pending, according to the announcement.
LyondellBasell confirmed, the transaction is expected to close in the second half of 2018.
Source: LyondellBasell press release
HGE – DCG / 22.03.2018
