Register
Forgot your password?
Skip Navigation Links
ABOUT US
REQUEST RESIN
RESEARCH
SUPPORT CENTER
CONTACT US
LyondellBasell Receives Chinese Antitrust Clearance for Acquisition of A. Schulman
HOUSTON and LONDON, May 22, 2018 /PRNewswire via COMTEX/ -- Copyright (C) 2018 PR Newswire. All rights reserved

LyondellBasell (NYSE: LYB), one of the largest plastics, chemicals and refining companies in the world, today announced that it has received unconditional clearance from the Chinese State Administration of Market Regulation ("SAMR") for its pending acquisition of A. Schulman, Inc. (NASDAQ: SHLM).

SAMR's clearance for the transaction satisfies one of the conditions for the closing of the pending acquisition, which remains subject to other customary closing conditions, including approval by A. Schulman shareholders and the receipt of other required regulatory clearances and approvals.

As previously announced on February 15, 2018, LyondellBasell and A. Schulman, a leading global supplier of high-performance plastic compounds, composites and powders, entered into a definitive agreement under which LyondellBasell will acquire A. Schulman for a total consideration of $2.25 billion. The acquisition builds upon LyondellBasell's existing platform to create a premier Advanced Polymer Solutions business with broad geographic reach, leading technologies and a diverse product portfolio.

The pending acquisition has already been cleared by antitrust regulators in the United States, Brazil, Serbia and Turkey. The transaction is expected to close in the second half of 2018.

More information on the transaction can be found at www.LyondellBasell.com/AdvancedPolymerSolutions.

About LyondellBasell LyondellBasell (NYSE: LYB) is one of the largest plastics, chemicals and refining companies in the world. Driven by its 13,400 employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, and improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road. LyondellBasell sells products into approximately 100 countries and is the world's largest licensor of polyolefin technologies. In 2018, LyondellBasell was named to Fortune magazine's list of the "World's Most Admired Companies." More information about LyondellBasell can be found at www.LyondellBasell.com.

Cautionary Note Regarding Forward-looking Statements This communication includes forward-looking statements relating to the proposed merger between LyondellBasell and A. Schulman, Inc. ("Schulman"), including statements as to the expected timing, completion and effects of the proposed merger. These estimates and statements are subject to risks and uncertainties, and actual results might differ materially. Such estimates and statements include, but are not limited to, statements about the benefits of the merger, including future financial and operating results, the combined company's plans, expectations and intentions, and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the management of LyondellBasell and Schulman and are subject to significant risks and uncertainties outside of our control. Actual results could differ materially based on factors including, but not limited to, the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, the risk that Schulman shareholders may not adopt the merger agreement, the risk that the necessary regulatory approvals may not be obtained or may be obtained subject to conditions that are not anticipated, failure to realize the benefits expected from the proposed merger and the effect of the announcement of the proposed merger on the ability of LyondellBasell and Schulman to retain customers and retain and hire key personnel and maintain relationships with their suppliers, and on their operating results and businesses generally. Discussions of additional risks and uncertainties are contained in LyondellBasell's and Schulman's filings with the Securities and Exchange Commission. Neither LyondellBasell nor Schulman is under any obligation, and each expressly disclaim any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise. Persons reading this communication are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof.

Additional Information and Where to Find It

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. This communication may be deemed to be solicitation material in respect of the proposed merger between LYB and Schulman. In connection with the proposed transaction, Schulman plans to file a proxy statement with the Securities and Exchange Commission ("SEC"). SHAREHOLDERS OF SCHULMAN ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT SCHULMAN WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE TRANSACTION. Shareholders and investors will be able to obtain free copies of the proxy statement and other relevant materials (when they become available) and other documents filed by Schulman at the SEC's web site at www.sec.gov. Copies of the proxy statement (when they become available) and the filings that will be incorporated by reference therein may also be obtained, without charge, from Schulman's website, aschulman.com, under the heading "Investors" or by contacting Schulman's Investor Relations at 330-668-7346 or jennifer.beeman@aschulman.com.

Participants in the Solicitation

LYB, Schulman, their directors, executive officers and certain employees may be deemed, under SEC rules, to be participants in the solicitation of proxies in respect of the proposed merger. Information regarding LYB's directors and executive officers is available in its proxy statement filed with the SEC on April 11, 2018. Information regarding Schulman's directors and executive officers is available in its proxy statement filed with the SEC on October 27, 2017. Other information regarding persons who may be deemed participants in the proxy solicitation, including their respective interests by security holdings or otherwise, is set forth in the definitive proxy statement that Schulman has filed with the SEC in connection with the special meeting of stockholders to be held on June 14, 2018. These documents can be obtained free of charge from the sources indicated above.

https://mma.prnewswire.com/media/562522/LyondellBasell_Advancing_Possible_Logo.jpg

https://c212.net/c/img/favicon.png?sn=DA03266&sd=2018-05-22

View original content with multimedia:http://www.prnewswire.com/news-releases/lyondellbasell-receives-chinese-antitrust-clearance-for-acquisition-of-a-schulman-300652876.html

SOURCE LyondellBasell

https://rt.prnewswire.com/rt.gif?NewsItemId=DA03266&Transmission_Id=201805221205PR_NEWS_USPR_____DA03266&DateId=20180522


News Provided by COMTEX
Privacy Statement | Copyright © 2017 The Plastics Exchange. LLC. | Patent Protected | All Rights Reserved.