If you can't be with the one you love, Basell, love the one you're with

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Things got weird today as Dutch chemical giant Basell showed up to the prom with a rebound date after being left heartbroken by Huntsman and co-yearbook committee treasurer Apollo Management.
Basell ended up taking U.S. based Lyondell Chemical to the dance, and footing a $12.1 billion all cash dinner bill. The chemical attraction between the two companies is undeniable (Lyondell's ethylene to Basell's polyolefins), and will create a company with $34 billion in revenue and 15,000 employees around the world.
Last week, Basell was outbid at the last minute by Apollo on a $5.6 billion offer to acquire Huntsman Corp. It is rumored that Basell walked away because Lyondell is in its swim unit in gym class and wow, just wow (and Shell Chemicals said that Formosa Plastics said that Huntsman totally "stuffs" its earnings). Certain drama lingers. Dupont said that it heard Basell tell its friend Dow Chemical at BASF's locker that it still wasn't over Huntsman.
Regardless, putting its rose in a fisted glove (what does that mean?!) for now, Basell and Lyondell are ready to get it together and make it nice.
Basell to Buy Lyondell for $12.1B [AP via Yahoo Finance]

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