LONDON, UK / ACCESSWIRE / April 20, 2018 / Active-Investors.com has just released a free research report on A. Schulman, Inc. (NASDAQ: SHLM). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SHLM as the Company's latest news hit the wire. On April 18, 2018, the Company announced that it has finalized the date for the special meeting of its stockholders as June 14, 2018, to discuss and take a vote approving the proposed merger with LyondellBasell Industries N.V. (NYSE: LYB), and LYB Americas Holdco Inc., a wholly owned subsidiary of LyondellBasell. The record date for shareholders will be May 07, 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, A. Schulman and LyondellBasell Industries most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
LyondellBasell had signed an agreement to acquire A. Schulman in February 2018 in a deal valued approximately $2.25 billion. The Board of Directors of A. Schulman have approved the merger and have recommended that its shareholders also vote in favor of the deal.
If the transaction is successful, A. Schulman's shareholders will get $42 cash plus and one contingent value right per share for each A. Schulman's share they own. The contingent value rights will entitle A. Schulman's shareholder to receive any proceeds, if any from the current ongoing litigation and government investigations relating to A. Schulman's Citadel and Lucent acquisitions. However, there are no guarantees about the recoveries.
The Company's shareholders at the close of record date, i.e. May 07, 2018, will be sent the notice for the special meeting of shareholders and will be able to cast their vote on the matter. The receipt of the approval from A. Schulman's shareholders will be an important milestone in closing the merger.
The Company expects that the merger would be completed in H2 2018 subject to receiving approvals from A. Schulman's shareholders, regulatory authorities, and completion of other closing conditions of the deal.
Highlights of the Merger
In February 2018, LyondellBasell signs an agreement to acquire A. Schulman for $2.25 billion including its debts. The deal is expected to create an industry leader in the premier Advanced Polymer Solutions business which will have a wide geographic footprint, industry leading technologies, and a diverse product portfolio.
The merger will create a company with a combined revenue of $4.6 billion and adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of $446 million in the last 12 months period. LyondellBasell expects the deal to realize $150 million in run-rate cost synergies within two years of completing the deal. LyondellBasell also expects the deal to be accretive to its earnings within one year of closing the transaction.
The Board of Directors of both LyondellBasell and A. Schulman had approved the deal. The proposed merger has already been approved by the US Federal Trade Commission in March 2018, when it granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
About A. Schulman Inc.
Akron, Ohio-based A. Schulman is an international supplier of high-performance plastic compounds, composites and resins, which are used in a variety of markets. Its principal product lines consist of proprietary and custom-formulated engineered plastic compounds, engineered composites, color concentrates, and additives that improve the appearance, performance or ability to process plastics in several specialized applications. It focuses on services and products for the injection, extrusion, blown-film extrusion, rotational and blow moulding, and thermoforming industries. The Company operates facilities in the North America, Latin America, EMEA region, and Asia/Pacific regions and had plants, offices and technical centers at strategic locations across the globe.
About LyondellBasell Industries N.V.
LyondellBasell is one of the largest plastics, chemicals, and refining companies in the world. The Company produces materials and products which are critical in creating solutions for enhancing food safety via lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, and improving the safety, comfort, and fuel efficiency of many of the cars and trucks on the road. It has global presence with offices in Houston, US, London UK, Rotterdam, Europe, and Hong Kong, China as well as 55 manufacturing facilities in 17 countries. It has an employee strength of 13,000 people globally.
Stock Performance Snapshot
April 19, 2018 - At Thursday's closing bell, A. Schulman's stock marginally declined 0.46%, ending the trading session at $42.90.
Volume traded for the day: 247.88 thousand shares.
Stock performance in the last three-month – up 12.16%; previous six-month period – up 16.42%; past twelve-month period – up 44.20%; and year-to-date - up 15.17%
After yesterday's close, A. Schulman's market cap was at $1.27 billion.
Price to Earnings (P/E) ratio was at 41.13.
The stock has a dividend yield of 1.91%.
The stock is part of the Basic Materials sector, categorized under the Chemicals - Major Diversified industry. This sector was up 0.1% at the end of the session.
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