Lyondell Announces Result of Shareholder Vote on its Acquisition by Basell
20 Novembre 2007 - 4:23PM
PR Newswire (US)
HOUSTON, Nov. 20 /PRNewswire-FirstCall/ -- Lyondell Chemical
Company (NYSE:LYO) announced that, at a Special Meeting of
Shareholders held today (the "Meeting"), shareholders approved the
Agreement and Plan of Merger, dated as of July 16, 2007, among
Basell AF, BIL Acquisition Holdings Limited ("Basell") and Lyondell
pursuant to which Basell will acquire all of Lyondell's outstanding
common shares for cash consideration of $48 per share. In the final
vote count by the independent inspectors of election, 168,008,513
Lyondell common shares (approximately 66.2 percent of the
outstanding common shares) were represented at the Meeting, in
person or by proxy, and the Agreement and Plan of Merger was
approved by 65.8 percent of the shares outstanding. The closing of
the transaction is anticipated to occur on or about Dec. 20, 2007.
Lyondell Chemical Company, headquartered in Houston, Texas, is
North America's third-largest independent, publicly traded chemical
company. Lyondell is a leading global manufacturer of chemicals and
plastics, a refiner of heavy, high-sulfur crude oil and a
significant producer of fuel products. Key products include
ethylene, polyethylene, styrene, propylene, propylene oxide,
gasoline, ultra low-sulfur diesel, MTBE and ETBE. DATASOURCE:
Lyondell Chemical Company CONTACT: David A. Harpole,
+1-713-309-4125, or Investors, Douglas J. Pike, +1-713-309-7141,
both for Lyondell Chemical Company Web site:
http://www.lyondell.com/
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