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MarketScreener Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Braskem SA    BRKM5   BRBRKMACNPA4

BRASKEM SA (BRKM5)
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LyondellBasell approaches Brazil's Braskem for takeover-WSJ

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10/30/2017 | 07:10pm CEST
General view of the refinery of US chemicals group LyondellBasell in Berre near Marseille

(Reuters) - LyondellBasell Industries NV (>> LyondellBasell Industries NV) has approached Brazil's Braskem SA (>> Braskem SA) for a potential takeover, valuing the petrochemicals company at more than $10 billion (7.57 billion pounds), the Wall Street Journal reported on Monday.

(Reuters) - LyondellBasell Industries NV (>> LyondellBasell Industries NV) has approached Brazil's Braskem SA (>> Braskem SA) <BAK.N> for a potential takeover, valuing the petrochemicals company at more than $10 billion (7.57 billion pounds), the Wall Street Journal reported on Monday.

The talks are at an early stage and there is no guarantee of a deal, the Journal reported, citing people familiar with the matter. http://on.wsj.com/2zRqhHj

A deal would help LyondellBasell expand in Latin America, where Braskem is the biggest petrochemicals company.

The news comes amid a wave of big mergers in the chemicals sector. Dow Chemical and DuPont completed their $130 billion merger last month to form DowDuPont (>> DowDuPont Inc), while ChemChina bought Swiss seeds group Syngenta (>> Syngenta) for $43 billion earlier this year.

LyondellBasell and Braskem did not immediately respond to Reuters requests for comment.

LyondellBasell's shares rose 6 percent to $105.03 while Braskem's U.S.-listed shares climbed 14 percent to $33.42 in afternoon trading on the New York Stock Exchange.

(Reporting by Ahmed Farhatha in Bengaluru; Editing by Sai Sachin Ravikumar)

Stocks mentioned in the article
ChangeLast1st jan.
BRASKEM SA 0.00% 61.01 End-of-day quote.42.66%
DOWDUPONT -0.37% 67.95 Delayed Quote.-4.59%
LYONDELLBASELL INDUSTRIES 0.43% 104.8 Delayed Quote.-5.00%
SYNGENTA 0.20% 453.4 End-of-day quote.0.31%
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Financials (BRL)
Sales 2018 55 912 M
EBIT 2018 8 770 M
Net income 2018 2 851 M
Debt 2018 22 328 M
Yield 2018 4,65%
P/E ratio 2018 14,00
P/E ratio 2019 14,15
EV / Sales 2018 1,21x
EV / Sales 2019 1,20x
Capitalization 45 549 M
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Number of Analysts 7
Average target price 56,8  BRL
Spread / Average Target -3,2%
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Managers
NameTitle
Fernando Musa Chief Executive Officer
Marcelo Moses de Oliveira Lyrio Chairman
Pedro van Langendonck de Freitas CFO & Investor Relations Officer
Patricio Almuina Chief Financial Officer
João Cox Neto Independent Director
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