LyondellBasell Approaches Brazil's Braskem for Takeover-WSJ
LyondellBasell Industries NV has approached Brazil's Braskem SA for a potential takeover, valuing the petrochemicals company at more than $10 billion, the Wall Street Journal reported on Monday.
The talks are at an early stage and there is no guarantee of a deal, the Journal reported, citing people familiar with the matter.
LyondellBasell did not immediately respond to a Reuters request for comment.
Its shares rose 6 percent to $105.03 in afternoon trading on the New York Stock Exchange.
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