LyondellBasell, the plastics, chemicals and refining company, has announced that the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), with respect to its pending acquisition of A. Schulman, Inc.
The termination of the waiting period under the HSR Act satisfies one of the conditions for the closing of the pending acquisition, which remains subject to other customary closing conditions, including approval by A. Schulman shareholders and the receipt of other required regulatory clearances and approvals.
As previously announced on 15 February 2018, LyondellBasell and A. Schulman, a global supplier of high-performance plastic compounds, composites and powders, entered into a definitive agreement under which LyondellBasell will acquire A. Schulman for a total consideration of US$2.25 billion. The acquisition is part of LyondellBasell's strategy existing to create a premier Advanced Polymer Solutions business with broad geographic reach, leading technologies and a diverse product portfolio.
The transaction is expected to close in the second half of 2018.
Read the article online at: https://www.hydrocarbonengineering.com/refining/22032018/lyondellbasell-granted-clearance-to-acquire-a-schulman/