A PYMNTS Company

US: LyondellBasell cleared by FTC to buy A. Schulman

 |  March 22, 2018

LyondellBasell announced on Thursday, March 22, that the Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Act (HSR Act), with respect to its pending acquisition of A. Schulman.

The termination of the waiting period under the HSR Act 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, a leading global supplier of high-performance plastic compounds, composites and powders, entered into a definitive agreement with A. Schulman under which LyondellBasell will acquire A. Schulman for a total of US$2.25 billion.

The transaction is expected to close in the second half of 2018.

LyondellBasell is one of the largest plastics, chemicals and refining companies in the world.

Full Content: Zacks

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.