15 February 2018
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- Creates an industry-leading compounding business with
combined revenue of $4.6 billion1
and adjusted EBITDA of $446 million2
over the last 12 months - Expects to capture $150 million in run-rate cost synergies
within two years, while being accretive to earnings
within the first full year following the close,
creating significant value for shareholders - Doubles the size of LyondellBasell's
existing compounding business and
establishes a platform for future growth
with reach into additional high-growth markets - Complementary strengths and capabilities
will provide customers with a full range
of innovative products and end-to-end solutions
LyondellBasell (NYSE: LYB) and A. Schulman, Inc. (NASDAQ: SHLM),
today announced that they have 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
in this space to create
a premier Advanced Polymer Solutions business
with broad geographic reach, leading technologies
and a diverse product portfolio.
Chief Executive Officer of LyondellBasell
"The acquisition of A. Schulman is a natural extension
of our current platform. This combination will allow us
to provide our customers with a wider range of innovative solutions
while adding the ability to serve high-growth end markets beyond
* the automotive sector, such as
* packaging and consumer products,
* electronics and appliances,
* building and construction, and agriculture,"
"By leveraging our proven approach
to operational, commercial and business excellence,
the combined business will create significant value
for our shareholders and customers."
Chairman, President and Chief Executive Officer of A. Schulman, Inc.
"This transaction, which provides our shareholders
with a compelling, immediate cash premium,
represents the culmination of a robust assessment
of strategic alternatives undertaken by our Board of Directors,"
"We are delighted to join forces with LyondellBasell,
an industry leader we have admired for many years.
LyondellBasell not only shares our commitment
to meeting customers' demanding requirements,
but with its scale and resources,
the combined business will be better positioned
to address a broader range of customer needs
by integrating across applications and offering customers
a wider range of solutions in attractive and growing markets.
We also expect this combination to create significant opportunities
for A. Schulman employees, whose professionalism and expertise
will be integral to advancing
LyondellBasell's vision, values and commitment
to making a positive global impact."
SOURCE LyondellBasell
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