Lyondell should weigh merits of Reliance bid, creditors' lawyer says

11/23/2009 | Forbes

Bankrupt petrochemicals maker LyondellBasell should carefully consider Reliance Industries' bid, reportedly worth between $10 billion and $12 billion in cash, according to a lawyer for unsecured creditors. Reliance's offer could help appease LyondellBasell's unsecured creditors, who have filed suit against banks and other creditors for orchestrating the company's 2007 leveraged buyout.

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