Millennium Chemicals (NYSE:MCH)
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Weil, Gotshal & Manges LLP Advises Millennium Chemicals in Agreement to Combine
With Lyondell
NEW YORK, March 29 /PRNewswire/ -- Weil, Gotshal & Manges LLP, one of the
world's leading law firms, advised Millennium Chemicals Inc. in its definitive
agreement, announced today, with Lyondell Chemical Company for a
stock-for-stock business combination of the companies.
The transaction will create North America's third-largest independent, publicly
traded chemical producer with combined pro forma 2003 revenues of more than $11
billion and market capitalization of nearly $4 billion. The transaction is
subject to customary conditions including approval by both companies'
shareholders, and is expected to close in the third quarter of 2004.
Millennium is the second-largest producer of titanium dioxide (TiO2) in the
world, in an industry in which the five largest producers represent
approximately 75 percent of worldwide capacity.
Lyondell, headquartered in Houston, Texas, is a leading producer of: propylene
oxide (PO); PO derivatives including propylene glycol (PG), butanediol (BDO) and
propylene glycol ethers (PGE); and styrene monomer and MTBE as co- products of
PO production.
Weil, Gotshal & Manges LLP is an international law firm of more than 1,100
attorneys, including approximately 300 partners. Weil Gotshal is headquartered
in New York, with offices in Austin, Boston, Brussels, Budapest, Dallas,
Frankfurt, Houston, London, Miami, Munich, Paris, Prague, Silicon Valley,
Singapore, Warsaw and Washington, D.C.
Weil, Gotshal & Manges LLP's Team
Partners: Mary Korby (Corporate - Dallas); Ellen J. Odoner (Corporate -
New York); Kenneth H. Heitner and Mary Jean M. Potenzone (Tax - New
York); Helene D. Jaffe (Trade Practices & Regulatory Law - New York)
Of Counsel: John M. Sipple (Trade Practices & Regulatory Law -
Washington D.C.)
Associates: Amanda Wallace, Angelique DeSanto, Irina Gonikberg-Dolinsky,
and William P. Welty (Corporate - New York); Max A. Goodman, Benjamin
Ferrucci and Edward K. Kim (Tax - New York)
Millennium Chemicals Inc
General Counsel: C. William Carmean
DATASOURCE: Weil, Gotshal & Manges LLP
CONTACT: Les Zuke, +1-212-310-8410, for Weil, Gotshal & Manges LLP; or
Jill Goodkind of Rubenstein Associates, +1-212-843-8017, for Weil, Gotshal &
Manges LLP
Web site: http://www.weil.com/