(Bloomberg) -- Saudi Basic Industries Corp., the
world's biggest chemical company by market value, will buy
General Electric Co.'s plastics unit for about $11 billion, two
people familiar with the negotiations said.
The acquisition is the largest ever for the Persian Gulf
and the price is above the $8 billion to $10 billion estimated
by some investors. Both people requested anonymity because a
decision hasn't been made public.
Read more at Bloomberg Energy News
world's biggest chemical company by market value, will buy
General Electric Co.'s plastics unit for about $11 billion, two
people familiar with the negotiations said.
The acquisition is the largest ever for the Persian Gulf
and the price is above the $8 billion to $10 billion estimated
by some investors. Both people requested anonymity because a
decision hasn't been made public.
Read more at Bloomberg Energy News
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