Chevron Phillips Chemical Corp. is reportedly considering offering Nova Chemicals for $15 billion including debt. The Woodlands-based joint venture of Phillips 66 and Chevron Corp. already is a huge global petrochemical that could further expand its footprint with Calgary-based Nova Chemicals. Unnamed sources told Reuters Thursday that Chevron Phillips has made the offer, but that another buyer may emerge. Nova Chemical’s owner, Abu Dhabi’s sovereign wealth fund Mubadala Investment Co.,could also decide to keep a stake in Nova Chemicals in a deal, one of the sources added.
Source: FuelFix
