German chemicals giant, Bayer, will buy the plastics business of Lyondell Chemical for $2.45 billion
By Staff -- Purchasing, 12/16/1999 2:00:00 AM
German chemicals giant, Bayer, will buy the plastics business of Lyondell Chemical for $2.45 billion. The deal will strengthen Bayer's core polymers business. It will include an alliance with Lyondell to combine technology and production of propylene oxide, a key raw material in production of plastics. The acquisition includes three U.S. and two European production plants. Closing of the transaction, subject to U.S. and European antitrust clearance, is expected to occur in first half 2000.
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