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MarketScreener Homepage  >  Equities  >  Nyse  >  LyondellBasell Industries    LYB   NL0009434992

LYONDELLBASELL INDUSTRIES (LYB)
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LyondellBasell Industries : Makes Takeover Approach to Braskem

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10/30/2017 | 06:32pm CEST
By Dana Mattioli and Dana Cimilluca 

LyondellBasell Industries NV has made a takeover approach to Braskem SA, according to people familiar with the matter, eyeing a deal that could value the Brazilian petrochemical company at well over $10 billion.

The talks are at an early stage, the people said, and there is no guarantee there will be a deal.

Should there be one, it would be substantial: Braskem on Monday had a market value of about 37 billion Brazilian real ($11.4 billion) and nearly as much debt. LyondellBasell had a market value of about $40 billion.

It would also be the second-largest Brazilian M&A deal, according to Dealogic. There has only been one double-digit-billion dollar deal in the country, according to the data provider's records: a $43 billion acquisition of oil-and-gas assets by Petrobras, announced in 2010.

LyondellBasell and Braskem operate in similar product lines but different geographies. Products include polyethylene, which is used in everyday items such as garbage bags and milk jugs. A deal would also give LyondellBasell access to faster-growing Latin American markets.

Write to Dana Mattioli at dana.mattioli@wsj.com and Dana Cimilluca at dana.cimilluca@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BRASKEM SA 0.00% 51.77 End-of-day quote.25.55%
LYONDELLBASELL INDUSTRIES 0.71% 97.63 Delayed Quote.-12.13%
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Financials ($)
Sales 2018 39 052 M
EBIT 2018 5 790 M
Net income 2018 4 661 M
Debt 2018 6 893 M
Yield 2018 4,12%
P/E ratio 2018 8,19
P/E ratio 2019 8,85
EV / Sales 2018 1,15x
EV / Sales 2019 1,12x
Capitalization 37 959 M
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Mean consensus HOLD
Number of Analysts 18
Average target price 115 $
Spread / Average Target 18%
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Managers
NameTitle
Bhavesh Vaghjibhai Patel Chief Executive Officer & Director
Jacques Aigrain Chairman-Supervisory Board
Thomas Aebischer Chief Financial Officer & Executive Vice President
Massimo Covezzi Senior Vice President-Research & Development
Bruce A. Smith Member-Supervisory Board
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