RELIANCE INDUSTRIES UPS BID FOR LYONDELLBASELL

摘要

Reliance Industries has increased its bid by $1 billion to $14.5 bil- lion for a controlling stake in LyondellBasell, local sources familiar with the situation say. A spokesperson for Reliance could not confirm this because the company's CFO, Alok Agarwal, could not be reached due to his traveling schedule. The offer would give Reliance a minor- ity stake in LyondellBasell but would give the company super-voting power to control LyondellBasell's board, reports say. The revised offer will allow LyondellBasell creditors to opt for cash or equity in the company.