LyondellBasell acquires A. Schulman for $2.25bn

Chemicals multinational LyondellBasell has announced today it has acquired US-based A. Schulman, Inc. for $2.25bn. The acquisition strengthens LyondellBasell’s position in the plastics business, adding new composites and high-performance polymers to its pipeline. The price paid by LyondellBasell corresponds to $42 per share, that is a 14% premium over yesterday’s closing price. Analysts have considered it a reasonable premium, as they were afraid that chemical groups’ value would soar, following the trend in the pharma sector, where investors are now used to premiums over 60%.
LyondellBasell’s shares have remained almost unaltered after the announcement, while A. Schulman’s have risen 14%.
(Source: LB)