Reliance has not lodged any final bids for Lyondell [Wednesday, December 9, 2009]
With all the hypes about Reliance Industry's move to acquire LyondellBasell, sources from the company said that reliance has not lodged in any final bid as of now. “Reliance has not made a final bid, (it has made) only a preliminary non-binding offer,” said the company spokesperson. The company also said that it has entered into a compromise with its investors to pay back them when the company gets out of bankruptcy. This further puts to doubt the speculations that Reliance will acquire the company.