By Stephen Nakrosis

LyondellBasell Industries NV (LYB) said Wednesday it received clearance from the European Commission for its pending acquisition of A. Schulman Inc. (SHLM).

The pending acquisition has already been cleared by antitrust regulators in the U.S., Brazil, China, Serbia, Turkey and Mexico, the company said.

LyondellBasell, a plastics and refining firm, made an offer to buy A. Schulman for $42 a share in February. The total consideration of the deal is $2.25 billion.

A. Schulman, based in Fairlawn, Ohio, is a supplier of high-performance plastic compounds, composites and powders.

The deal is expected to close in the second half of this year.

-- Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

June 27, 2018 12:52 ET (16:52 GMT)

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