Business News: LyondellBasell Announces Commencement of Modified Dutch Auction Tender Offer to Purchase Up to 37,000,000 of Its Shares

10Jun - by Editor - 0 - In STL.News

HOUSTON and LONDON (STL.News) – LyondellBasell (NYSE: LYB) (“LyondellBasell” or the “Company”), one of the largest plastics, chemicals and refining companies in the world, today announced that it commenced a “modified Dutch Auction” tender offer to purchase up to 37,000,000 of its issued and outstanding ordinary shares, par value €0.04 per share (each, a “Share,” and collectively, “Shares”), or such lesser number of Shares as are properly tendered and not properly withdrawn, at a price that is the lesser of (i) a price not greater than $88.00 nor less than $77.00 per Share, and (ii) a price that equals 110% of the Daily VWAP on the expiration date of the tender offer (the “Final Price Cap”), to the seller in cash, less any applicable withholding taxes and without interest. 

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