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4-Traders Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Braskem SA    BRKM5   BRBRKMACNPA4

BRASKEM SA (BRKM5)
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LyondellBasell approaches Brazil's Braskem for takeover-WSJ

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10/30/2017 | 07:10pm CEST
General view of the refinery of US chemicals group LyondellBasell in Berre near Marseille

(Reuters) - LyondellBasell Industries NV (>> LyondellBasell Industries NV) has approached Brazil's Braskem SA (>> Braskem SA) for a potential takeover, valuing the petrochemicals company at more than $10 billion (7.57 billion pounds), the Wall Street Journal reported on Monday.

(Reuters) - LyondellBasell Industries NV (>> LyondellBasell Industries NV) has approached Brazil's Braskem SA (>> Braskem SA) <BAK.N> for a potential takeover, valuing the petrochemicals company at more than $10 billion (7.57 billion pounds), 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. http://on.wsj.com/2zRqhHj

A deal would help LyondellBasell expand in Latin America, where Braskem is the biggest petrochemicals company.

The news comes amid a wave of big mergers in the chemicals sector. Dow Chemical and DuPont completed their $130 billion merger last month to form DowDuPont (>> DowDuPont Inc), while ChemChina bought Swiss seeds group Syngenta (>> Syngenta) for $43 billion earlier this year.

LyondellBasell and Braskem did not immediately respond to Reuters requests for comment.

LyondellBasell's shares rose 6 percent to $105.03 while Braskem's U.S.-listed shares climbed 14 percent to $33.42 in afternoon trading on the New York Stock Exchange.

(Reporting by Ahmed Farhatha in Bengaluru; Editing by Sai Sachin Ravikumar)

Stocks mentioned in the article
ChangeLast1st jan.
DOWDUPONT -0.60% 65.495 Delayed Quote.-6.82%
LYONDELLBASELL INDUSTRIES -0.95% 108.8365 Delayed Quote.-0.29%
SYNGENTA 0.20% 453.4 End-of-day quote.0.31%
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06/15ENERGY/MATERIALS - TOP GAINERS / LOS : 00 pm (06/15/2018) 
06/15Midday Gainers / Losers (06/15/2018) 
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Financials ( BRL)
Sales 2018 52 560 M
EBIT 2018 8 286 M
Net income 2018 2 261 M
Debt 2018 22 176 M
Yield 2018 4,34%
P/E ratio 2018 13,95
P/E ratio 2019 15,01
EV / Sales 2018 1,16x
EV / Sales 2019 1,17x
Capitalization 38 977 M
Chart BRASKEM SA
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Technical analysis trends BRASKEM SA
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 54,6  BRL
Spread / Average Target 11%
EPS Revisions
Managers
NameTitle
Fernando Musa Chief Executive Officer
Marcelo Moses de Oliveira Lyrio Chairman
Pedro van Langendonck de Freitas CFO & Investor Relations Officer
João Cox Neto Independent Director
Ernani Filgueiras de Carvalho Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
BRASKEM SA20.05%10 348
SAUDI BASIC INDUSTRIES CORPORATION SJSC--.--%101 283
AIR LIQUIDE2.81%53 519
PRAXAIR0.41%44 631
LYONDELLBASELL INDUSTRIES-0.29%43 618
SHIN-ETSU CHEMICAL CO LTD-16.69%38 329