HOUSTON and LONDON, March 21,
2018 /PRNewswire/ -- LyondellBasell (NYSE: LYB), one of
the largest plastics, chemicals and refining companies in the
world, today announced that the Federal Trade Commission granted
early termination of the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976 ("HSR Act"), with respect to its
pending acquisition of A. Schulman, Inc. (NASDAQ: SHLM).
The termination of the waiting period under the HSR Act
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 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 LyondellBasell and Schulman. In connection with the
proposed transaction, Schulman plans to file a proxy statement with
the 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
LyondellBasell, 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 LyondellBasell's
directors and executive officers is available in its proxy
statement filed with the SEC on April 6, 2017. 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 the participants in the proxy
solicitation and a description of their direct and indirect
interests, by security holdings or otherwise, will be contained in
the proxy statement and other relevant materials to be filed with
the SEC (when they become available). These documents can be
obtained free of charge from the sources indicated above.
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SOURCE LyondellBasell