Lyondell and Millennium to merge

摘要

Lyondell Chemical Company and Millennium Chemicals Inc.are to merge.The transaction will create North America's third-largest independent publicly traded chemical producer with combined pro forma 2003 revenues of more than US11 billion and market capitalization of nearly US4 billion.The deal is subject to customary conditions including approval by both companies'shareholders,and is expected to close in the third quarter of 2004.After the close of the transaction,the company will be called Lyondell Chemical Company and will be headquartered in Houston,Texas,USA.