On Oct. 4, 2007, the Board of Directors of Lyondell Chemical Company declared a conditional quarterly dividend of $0.225 per share of common stock to stockholders of record as of the close of business at 5 p.m. EST on Nov. 26, 2007 ("Record Date").
On July 17, 2007, Basell and Lyondell entered into a definitive merger agreement that would result in each holder of Lyondell common stock receiving $48 per share in cash merger consideration and Lyondell becoming a wholly owned subsidiary of Basell.
A special meeting of Lyondell shareholders has been called for Nov. 20, 2007 to vote on the merger proposal. While the closing date of the merger has yet to be determined, we are working toward a completion date in the fourth quarter of 2007, although there can be no assurance regarding the exact timing.
The dividend will be payable on Dec. 17, 2007 ("Payment Date") only if the merger has not closed on or prior to the Record Date.
If the closing of the merger occurs after the Record Date, the dividend will be paid on the Payment Date to persons who were holders of record on the Record Date, even if the closing were to occur before the Payment Date.
If the merger closes on or prior to the Record Date, Lyondell shareholders will receive the merger consideration, but no dividend will be paid.
Lyondell Chemical Company
marketing@alchempro.com
