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A Schulman's merger with LyondellBasell approved

23 Jun '18

1 min read

Courtesy: LyondellBasell

Merger of A Schulman with LyondellBasell Industries has been approved by stockholders of A Schulman, supplier of high-performance plastic compounds, composites and resins. LyondellBasell will acquire the outstanding shares of A Schulman common stock. The advisory proposal regarding executive compensation related to the merger has also been approved.

“A Schulman shareholders have solidly affirmed the value that the company’s merger with LyondellBasell represents. This outcome serves the best interests of all our stakeholders including our customers, suppliers, employees and the communities in which we operate,” stated Joseph M Gingo, chairman, president and chief executive officer of A Schulman.

Upon completion of the merger, A Schulman stockholders will be entitled to receive $42 in cash and one contingent value right for each share of A Schulman’s common stock. The closing of the merger remains subject to the satisfaction of customary closing conditions, including approvals from competition agencies in each of the European Union and Russia as well as CFIUS approval. A Schulman and LyondellBasell continue to target closing the transaction in the third calendar quarter of 2018. (SV)

Fibre2Fashion News Desk – India