Houston, Texas – LyondellBasell’s takeover of A. Schulman is a step closer, after the deal gained antitrust clearance from the European Commission.
First announced back in February, the $2.25bn acquisition will result in an advanced polymer solutions business within LyondellBasell. The company claims it will have a broad geographic reach and a diverse portfolio of products.
Schulman’s shareholders voted in favour of the deal two weeks earlier, on 14 June. The closing of the acquisition remains subject to other required clearances and approvals. The deal has already been cleared in the US, Brazil, China and several other territories, and is expected to close in the second half of 2018.