March 4 (plastemart) -- The shares of Reliance Industries Ltd. (RIL) have spiked past the 1000 mark as reports pour in that the bankrupt petrochemicals firm LyondellBasell rejected an acquisition bid by RIL. RIL had bid for LB in November at about US$12 bln that it raised to US$14.5 bln a week ago.
Investors were concerned that RIL was paying too much for the acquisition because of which the share prices had weakened. However, markets have been believed that the deal did not come through.
LyondellBasell. The share in the Russian market in 2008:
PE - 1.4% (including HDPE - 2.5%, LDPE - 0.3%);
PP - 4.1% (including block-copolymers - 9.5%).
Annual sales growth in Russia, during the recent 5 years:
PE - 27%;
PP - 88%.
The leader in the following polymers processing technologies: