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LyondellBasell approaches Brazil's Braskem for takeover-WSJ
October 30, 2017 / 5:40 PM / 23 days ago

LyondellBasell approaches Brazil's Braskem for takeover-WSJ

Oct 30 (Reuters) - LyondellBasell Industries NV has approached Brazil’s Braskem SA for a potential takeover, valuing the petrochemicals company at more than $10 billion, the Wall Street Journal reported on Monday.

The talks are at an early stage and there is no guarantee of a deal, the Journal reported, citing people familiar with the matter. on.wsj.com/2zRqhHj

LyondellBasell did not immediately respond to a Reuters request for comment.

Its shares rose 6 percent to $105.03 in afternoon trading on the New York Stock Exchange. (Reporting by Ahmed Farhatha in Bengaluru; Editing by Sai Sachin Ravikumar)

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