HOUSTON and LONDON, May 22,
2018 /PRNewswire/ -- LyondellBasell (NYSE: LYB), one of
the largest plastics, chemicals and refining companies in the
world, today announced that it has received unconditional clearance
from the Chinese State Administration of Market Regulation ("SAMR")
for its pending acquisition of A. Schulman, Inc. (NASDAQ:
SHLM).
SAMR's clearance for the transaction satisfies one of the
conditions for the closing of the pending acquisition, which
remains subject to other customary closing conditions, including
approval by A. Schulman shareholders and the receipt of other
required regulatory clearances and approvals.
As previously announced on February 15,
2018, LyondellBasell and A. Schulman, a leading global
supplier of high-performance plastic compounds, composites and
powders, entered into a definitive agreement under which
LyondellBasell will acquire A. Schulman for a total consideration
of $2.25 billion. The acquisition
builds upon LyondellBasell's existing platform to create a premier
Advanced Polymer Solutions business with broad geographic reach,
leading technologies and a diverse product portfolio.
The pending acquisition has already been cleared by antitrust
regulators in the United States,
Brazil, Serbia and Turkey. The transaction is expected to close
in the second half of 2018.
More information on the transaction can be found at
www.LyondellBasell.com/AdvancedPolymerSolutions.
About LyondellBasell
LyondellBasell (NYSE: LYB) is
one of the largest plastics, chemicals and refining companies in
the world. Driven by its 13,400 employees around the globe,
LyondellBasell produces materials and products that are key to
advancing solutions to modern challenges like enhancing food safety
through lightweight and flexible packaging, protecting the purity
of water supplies through stronger and more versatile pipes, and
improving the safety, comfort and fuel efficiency of many of the
cars and trucks on the road. LyondellBasell sells products into
approximately 100 countries and is the world's largest licensor of
polyolefin technologies. In 2018, LyondellBasell was named to
Fortune magazine's list of the "World's Most Admired Companies."
More information about LyondellBasell can be found at
www.LyondellBasell.com.
Cautionary Note Regarding Forward-looking
Statements
This communication includes forward-looking
statements relating to the proposed merger between LyondellBasell
and A. Schulman, Inc. ("Schulman"), including statements as to the
expected timing, completion and effects of the proposed
merger. These estimates and statements are subject to risks
and uncertainties, and actual results might differ materially. Such
estimates and statements include, but are not limited to,
statements about the benefits of the merger, including future
financial and operating results, the combined company's plans,
expectations and intentions, and other statements that are not
historical facts. Such statements are based upon the current
beliefs and expectations of the management of LyondellBasell and
Schulman and are subject to significant risks and uncertainties
outside of our control. Actual results could differ materially
based on factors including, but not limited to, the occurrence of
any event, change or other circumstances that could give rise to
the termination of the merger agreement, the risk that Schulman
shareholders may not adopt the merger agreement, the risk that the
necessary regulatory approvals may not be obtained or may be
obtained subject to conditions that are not anticipated, failure to
realize the benefits expected from the proposed merger and the
effect of the announcement of the proposed merger on the ability of
LyondellBasell and Schulman to retain customers and retain and hire
key personnel and maintain relationships with their suppliers, and
on their operating results and businesses generally. Discussions of
additional risks and uncertainties are contained in
LyondellBasell's and Schulman's filings with the Securities and
Exchange Commission. Neither LyondellBasell nor Schulman is under
any obligation, and each expressly disclaim any obligation, to
update, alter, or otherwise revise any forward-looking statements,
whether written or oral, that may be made from time to time,
whether as a result of new information, future events, or
otherwise. Persons reading this communication are cautioned
not to place undue reliance on these forward-looking statements
which speak only as of the date hereof.
Additional Information and Where to Find It
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of
any vote or approval. This communication may be deemed to be
solicitation material in respect of the proposed merger between LYB
and Schulman. In connection with the proposed transaction, Schulman
plans to file a proxy statement with the Securities and Exchange
Commission ("SEC"). SHAREHOLDERS OF SCHULMAN ARE URGED TO READ
THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS
THERETO ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND OTHER
RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT SCHULMAN
WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL
CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND
THE PARTIES TO THE TRANSACTION. Shareholders and investors will
be able to obtain free copies of the proxy statement and other
relevant materials (when they become available) and other documents
filed by Schulman at the SEC's web site at www.sec.gov. Copies of
the proxy statement (when they become available) and the filings
that will be incorporated by reference therein may also be
obtained, without charge, from Schulman's website, aschulman.com,
under the heading "Investors" or by contacting Schulman's Investor
Relations at 330-668-7346 or jennifer.beeman@aschulman.com.
Participants in the Solicitation
LYB, Schulman, their directors, executive officers and certain
employees may be deemed, under SEC rules, to be participants in the
solicitation of proxies in respect of the proposed merger.
Information regarding LYB's directors and executive officers is
available in its proxy statement filed with the SEC on April 11, 2018. Information regarding Schulman's
directors and executive officers is available in its proxy
statement filed with the SEC on October 27,
2017. Other information regarding persons who may be deemed
participants in the proxy solicitation, including their respective
interests by security holdings or otherwise, is set forth in the
definitive proxy statement that Schulman has filed with the SEC in
connection with the special meeting of stockholders to be held on
June 14, 2018. These documents can be
obtained free of charge from the sources indicated above.
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SOURCE LyondellBasell