Deals
Blavatnik Says $22 Billion LyondellBasell Merger Was Worth It
- ‘I would make the very same investment decision,’ he testifies
- Unsecured creditors from 2009 bankruptcy seek billions back
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If billionaire Len Blavatnik could go back to 2007, he would create LyondellBasell Industries NV all over again.
“I would make the very same investment decision,” he said in a trial over whether the merger was overpriced to benefit him at the expense of creditors in the company’s 2009 bankruptcy. “Indeed, my faith in the combined company continues today,” according to his written testimony.