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M&A Deal Summary

Lyondell Chemical Co. Acquires Millennium Chemicals

On March 29, 2004, Lyondell Chemical Co. acquired chemicals company Millennium Chemicals for 2.3B USD

Acquisition Highlights
  • This is Lyondell Chemical Co.’s 2nd transaction in the Chemicals sector.
  • This is Lyondell Chemical Co.’s 2nd largest (disclosed) transaction.
  • This is Lyondell Chemical Co.’s 2nd transaction in the United States.
  • This is Lyondell Chemical Co.’s 1st transaction in Delaware.

M&A Deal Summary
Date 2004-03-29
Target Millennium Chemicals
Sector Chemicals
Buyer(s) Lyondell Chemical Co.
Deal Type Add-on Acquisition
Deal Value 2.3B USD
Advisor(s) J.P. Morgan Securities
UBS Investment Bank (Financial)
Weil Gotshal & Manges (Legal)

Target

Millennium Chemicals

Greenville, Delaware, United States
Millennium is the second-largest producer of TiO2 in the world, the largest merchant seller of titanium tetrachloride and a major producer of zircon and zirconia, silica gel and cadmium-based pigments. It also is the second-largest producer of acetic acid and vinyl acetate monomer in North America, and a leading producer of terpene-based fragrance and flavor chemicals.

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Buyer(S) 1

Buyer

Lyondell Chemical Co.

Houston, Texas, United States
Category Company
Sector Chemicals
DESCRIPTION

Lyondell Chemical Company is a 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.

DEAL STATS #
Overall 2 of 2
Sector: Chemicals M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 2
State: Delaware M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2004 M&A 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-06-19 Arco Chemical Co.

Newtown Square, Pennsylvania, United States

Arco Chemical Co. is a manufacturer and marketer of propylene oxide.

Buy $5.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-26 Lyondell Chemical Co. - Inorganic Chemicals Business

Houston, Texas, United States

Lyondell's Millennium Inorganic Chemicals subsidiary is the world's second-largest producer of titanium dioxide with an annual capacity of 670,000 metric tons. Titanium dioxide is a white pigment commonly used in such consumer products as paint, toothpaste and sunblock.

Sell $1.2B
Mergr

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