LyondellBasell announces preliminary results of modified Dutch Auction
LyondellBasell announced the preliminary results of its "modified Dutch Auction" tender offer, which expired one minute after 11:59 p.m., New York City time, on July 8. Based on the preliminary count by Computershare Trust Company, N.A., the depositary for the tender offer, a total of about 35.15M shares of LyondellBasell's ordinary shares, EUR 0.04 par value per share, were properly tendered and not properly withdrawn at or below the purchase price of $88.00 per share, including about 12.97M shares that were tendered by notice of guaranteed delivery. In accordance with the terms and conditions of the tender offer and based on the preliminary count by the Depositary, LyondellBasell expects to acquire approximately 35.15M shares at a price of $88.00 per share, for an aggregate cost of approximately $3.09B, excluding fees and expenses relating to the tender offer. These shares represent approximately 9.5% of the shares outstanding as of July 8.