Brazil's Braskem denies takeover talks with LyondellBasell
by ChemOrbis Editorial Team - content@chemorbis.com
Brazil’s Braskem has refuted the news reports suggesting that the company was approached by LyondellBasell about a possible takeover, in a filing published on the Securities and Exchange Commission’s (SEC) official website.
The company stated that no proposal was brought forward by LyondellBasell regarding a possible acquisition of its shares.
Meanwhile, LyondellBasell and Braskem’s stock prices soared following the rumors about the acquisition, while Braskem’s largest shareholder voiced its opposition towards the plan.
The company stated that no proposal was brought forward by LyondellBasell regarding a possible acquisition of its shares.
Meanwhile, LyondellBasell and Braskem’s stock prices soared following the rumors about the acquisition, while Braskem’s largest shareholder voiced its opposition towards the plan.
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