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Market Chatter: Shell Draws Exxon, LyondellBasell Interest in US Chemicals Assets

MT Newswires Live
1 hour ago

Shell (SHEL) has drawn interest from potential bidders including ExxonMobil (XOM), LyondellBasell (LYB) and Apollo Global Management (APO) for its US chemicals assets, which could fetch up to $8 billion, The Financial Times reported Monday, citing people familiar with the matter.

The report said the assets span four sites in Louisiana, Texas and Pennsylvania, including Shell's $14 billion Monaca, Pennsylvania, complex.

Potential bidders submitted non-binding offers last month for the entire business or parts of it, the people told The Financial Times.

Shell declined to comment, while ExxonMobil, LyondellBasell and Apollo Global Management did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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