Lyondell Declares Conditional Quarterly Dividend
04 Octubre 2007 - 2:30PM
PR Newswire (US)
HOUSTON, Oct. 4 /PRNewswire-FirstCall/ -- On Oct. 4, 2007, the
Board of Directors of Lyondell Chemical Company (NYSE:LYO) declared
a conditional quarterly dividend of $0.225 per share of common
stock to stockholders of record as of the close of business at 5
p.m. EST on Nov. 26, 2007 ("Record Date"). On July 17, 2007, Basell
and Lyondell entered into a definitive merger agreement that would
result in each holder of Lyondell common stock receiving $48 per
share in cash merger consideration and Lyondell becoming a wholly
owned subsidiary of Basell. A special meeting of Lyondell
shareholders has been called for Nov. 20, 2007 to vote on the
merger proposal. While the closing date of the merger has yet to be
determined, we are working toward a completion date in the fourth
quarter of 2007, although there can be no assurance regarding the
exact timing. The dividend will be payable on Dec. 17, 2007
("Payment Date") only if the merger has not closed on or prior to
the Record Date. If the closing of the merger occurs after the
Record Date, the dividend will be paid on the Payment Date to
persons who were holders of record on the Record Date, even if the
closing were to occur before the Payment Date. If the merger closes
on or prior to the Record Date, Lyondell shareholders will receive
the merger consideration, but no dividend will be paid. Lyondell
Chemical Company, headquartered in Houston, Texas, is North
America's third-largest independent, publicly traded chemical
company. Lyondell is a leading global manufacturer of chemicals and
plastics, a refiner of heavy, high-sulfur crude oil and a
significant producer of fuel products. Key products include
ethylene, polyethylene, styrene, propylene, propylene oxide,
gasoline, ultra low-sulfur diesel, MTBE and ETBE. Additional
Information and Where to Find It In connection with the
solicitation of proxies by Lyondell Chemical Company (the
"Company") with respect to the meeting of its stockholders
regarding the proposed merger, the Company has filed a preliminary
proxy statement and plans to file with the Securities and Exchange
Commission (the "SEC") a definitive proxy statement. STOCKHOLDERS
OF THE COMPANY ARE ADVISED TO READ THE PRELIMINARY PROXY STATEMENT
AND THE DEFINITIVE PROXY STATEMENT WHEN IT IS FINALIZED AND
DISTRIBUTED TO THE STOCKHOLDERS BECAUSE EACH CONTAINS IMPORTANT
INFORMATION. Stockholders will be able to obtain a free-of-charge
copy of the proxy statement (when available) and other relevant
documents filed with the SEC from the SEC's web site at
http://www.sec.gov/. Stockholders will also be able to obtain a
free-of-charge copy of the proxy statement and other relevant
documents (when available) by directing a request by mail to
Lyondell Chemical Company, Investor Relations, 1221 McKinney
Street, Suite 700, Houston, Texas 77010, telephone (713) 309-4590,
or from the Company's web site at http://www.lyondell.com/. The
Company and certain of its directors and executive officers may,
under the rules of the SEC, be deemed to be "participants" in the
solicitation of proxies from its stockholders in connection with
the proposed merger. Information concerning the interests of the
persons who may be "participants" in the solicitation is set forth
in the Company's preliminary proxy statement and annual reports on
Form 10-K (including any amendments thereto), previously filed with
the SEC, and will be included in the definitive proxy statement and
other relevant materials to be filed with the SEC when they become
available. DATASOURCE: Lyondell Chemical Company CONTACT: media,
Lisa M. Walsh, +1-713-309-4890, or investors, Douglas J. Pike,
+1-713-309-7141, both of Lyondell Chemical Company Web site:
http://www.lyondell.com/
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