Wednesday, March 03, 2010

LyondellBasell rejects bid by Indian energy major Reliance Industries Ltd

Bankrupt petrochemicals maker LyondellBasell has rejected a bid for takeover by India's Reliance Industries Ltd. The New York Post reported that a creditor group led by US private equity firm Apollo Management, which is controlling Lyondell's bankruptcy process in the United States, is expected to reject Reliance's latest bid.

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