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Basell To Buy Lyondell

July 17, 2007

Deal to create huge chemicals company.

A global leader in polyolefins, Basell will acquire chemical giant Lyondell’s outstanding common shares for $48 per common share in an all cash transaction with a total enterprise value of approximately $19 billion, including the assumption of debt. The transaction will create one of the sector’s largest companies. Lyondell’s three business segments -- ethylene, co-products and derivatives; propylene oxide and related products; and refining -- will complement and significantly strengthen Basell’s polyolefins business. Basell and Lyondell together would have had combined 2006 revenues of approximately $34 billion and 15,000 employees around the world.
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