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

MT Newswires Live

2 hours ago

(Updates with ExxonMobil's response in the fourth paragraph.)

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

Potential bidders submitted nonbinding offers last month for the entire business or parts of it, the people told the publication.

ExxonMobil doesn't comment on "rumors or speculation," the company said in a statement e-mailed to MT Newswires.

Shell declined to comment, while LyondellBasell and Apollo didn't immediately respond to MT Newswires' requests 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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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