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Basell (Hoofddorp, The Netherlands) has signed a definitive agreement to purchase the outstanding common shares of Lyondell Chemical Co. (Houston, Texas, USA) for $48 per share in an all-cash transaction valued at approximately $19 billion (including debt assumption). The transaction will create one of the sector's largest companies. Combined, Basell and Lyondell had 2006 revenues of approximately $34 billion, employing about 15,000 persons worldwide.
