A. Schulman stockholders approve merger with Lyondellbasell
A. Schulman announced that during a special stockholder meeting, A. Schulman stockholders approved the merger agreement under which LyondellBasell Industries will acquire all of the outstanding shares of A. Schulman common stock. A. Schulman stockholders also approved the non-binding advisory proposal regarding executive compensation related to the merger.
“A. Schulman shareholders have solidly affirmed the value that the Company’s merger with LyondellBasell represents. This outcome serves the best interests of all our stakeholders including our customers, suppliers, employees and the communities in which we operate,” stated Joseph M. Gingo, chairman, president and chief executive officer of A. Schulman.
Upon completion of the merger, A. Schulman stockholders will be entitled to receive $42.00 in cash and one contingent value right for each share of A. Schulman’s common stock. The closing of the merger remains subject to the satisfaction of customary closing conditions, including approvals from competition agencies in each of the European Union and Russia as well as CFIUS approval. A. Schulman and LyondellBasell continue to target closing the transaction in the third calendar quarter of 2018; however, there can be no assurance regarding timing of completion of regulatory approvals, which could delay timing of the closing.
