LyondellBasell to Buy Back 35.1 Million Shares in Dutch Auction
July 09 2019 - 7:41AM
Dow Jones News
By Colin Kellaher
LyondellBasell Industries N.V. (LYB) Tuesday said it will buy
back about 35.1 million shares in its modified Dutch Auction tender
offer, shy of the 37 million shares the plastics and refining
company was targeting.
LyondellBasell said 35.1 million shares, or about 9.5% of its
shares outstanding, were properly tendered and not withdrawn at or
below $88 each. The company said it will pay about $3.09 billion
for the shares.
LyondellBasell last month launched the tender offer for up to 37
million shares, with a price range of $77 to $88.
LyondellBasell shares closed Monday at $87.37.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 09, 2019 07:26 ET (11:26 GMT)
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