LyondellBasell Industries : to Buy Back 35.1 Million Shares in Dutch Auction
2019-07-10    []

LyondellBasell Industries N.V. (LYB) Tuesday said it will buy back about 35.1 million shares in its modified Dutch Auction tender offer, shy of the 37 million shares the plastics and refining company was targeting.

LyondellBasell said 35.1 million shares, or about 9.5% of its shares outstanding, were properly tendered and not withdrawn at or below $88 each. The company said it will pay about $3.09 billion for the shares.

LyondellBasell last month launched the tender offer for up to 37 million shares, with a price range of $77 to $88.

LyondellBasell shares closed Monday at $87.37.



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