Reports: LyondellBasell makes takeover approach to Braskem

摘要

LyondellBasell Industries has made a takeover approach to Braskem SA (S?o Paulo), according to a Wall Street Journal report citing people familiar with the matter. Talks are at an early stage, according to the report. LyondellBasell declined to comment. Braskem could not immediately be reached for comment. Braskem shares soared 11% on the news 30 October and its American depository receipt (ADR) shares closed at $32.56. LyondellBasell shares closed at $106.00/share, up 7% for the day. Braskem has a market capitalization of $12.7 billion and consolidated net debt of $10.4 billion.