LyondellBasell receives chinese antitrust clearance for acquisition of A. Schulman

HOUSTON and LONDON,  /PRNewswire/ -- LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, announced that it has received unconditional clearance from the Chinese State Administration of Market Regulation ("SAMR") for its pending acquisition of A. Schulman, Inc.

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.

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