COMPANY NEWS: Basell to buy Lyondell Chemical in $19 billion deal

07/23/2007
Polyolefins manufacturer Basell Service Co. BV plans to buy Lyondell Chemical Co. of Houston for about $12 billion, plus the assumption of Lyondell’s $7 billion debt. The transaction will create one of the world’s largest chemical companies.In other recent company news: Plains Exploration & Production Co. has agreed to acquire Pogo Producing Co. in a cash and stock deal valued at $3.6 billion. Statoil ASA and Norsk Hydro ASA shareholders approved the merger of Statoil and the oil and gas division of Hydro during separate July 5 extraordinary general meetings. Chesapeake Energy Corp. and Anadarko Petroleum Corp. have entered into multiple agreements, including a joint ventu...
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