Weil, Gotshal & Manges LLP Advises Millennium Chemicals in Agreement to Combine With Lyondell
March 29 2004 - 3:10PM
PR Newswire (US)
Weil, Gotshal & Manges LLP Advises Millennium Chemicals in
Agreement to Combine With Lyondell NEW YORK, March 29 /PRNewswire/
-- Weil, Gotshal & Manges LLP, one of the world's leading law
firms, advised Millennium Chemicals Inc. in its definitive
agreement, announced today, with Lyondell Chemical Company for a
stock-for-stock business combination of the companies. The
transaction will create North America's third-largest independent,
publicly traded chemical producer with combined pro forma 2003
revenues of more than $11 billion and market capitalization of
nearly $4 billion. The transaction is subject to customary
conditions including approval by both companies' shareholders, and
is expected to close in the third quarter of 2004. Millennium is
the second-largest producer of titanium dioxide (TiO2) in the
world, in an industry in which the five largest producers represent
approximately 75 percent of worldwide capacity. Lyondell,
headquartered in Houston, Texas, is a leading producer of:
propylene oxide (PO); PO derivatives including propylene glycol
(PG), butanediol (BDO) and propylene glycol ethers (PGE); and
styrene monomer and MTBE as co- products of PO production. Weil,
Gotshal & Manges LLP is an international law firm of more than
1,100 attorneys, including approximately 300 partners. Weil Gotshal
is headquartered in New York, with offices in Austin, Boston,
Brussels, Budapest, Dallas, Frankfurt, Houston, London, Miami,
Munich, Paris, Prague, Silicon Valley, Singapore, Warsaw and
Washington, D.C. Weil, Gotshal & Manges LLP's Team Partners:
Mary Korby (Corporate - Dallas); Ellen J. Odoner (Corporate - New
York); Kenneth H. Heitner and Mary Jean M. Potenzone (Tax - New
York); Helene D. Jaffe (Trade Practices & Regulatory Law - New
York) Of Counsel: John M. Sipple (Trade Practices & Regulatory
Law - Washington D.C.) Associates: Amanda Wallace, Angelique
DeSanto, Irina Gonikberg-Dolinsky, and William P. Welty (Corporate
- New York); Max A. Goodman, Benjamin Ferrucci and Edward K. Kim
(Tax - New York) Millennium Chemicals Inc General Counsel: C.
William Carmean DATASOURCE: Weil, Gotshal & Manges LLP CONTACT:
Les Zuke, +1-212-310-8410, for Weil, Gotshal & Manges LLP; or
Jill Goodkind of Rubenstein Associates, +1-212-843-8017, for Weil,
Gotshal & Manges LLP Web site: http://www.weil.com/
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