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Brazil's Braskem denies takeover talks with LyondellBasell

by ChemOrbis Editorial Team -
  • 01/11/2017 (15:42)
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.
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