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Agreement and Plan of Merger

 

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Title:

Agreement and Plan of Merger

Entities:

Lyondell Chemical Co.

Date:

2007

Size:

233KB total

Price:

$52

ID:

#2966902

 

 

► Plans ► Agreements ► Agreements & Plans of Merger
► Energy ► Oil & Gas Operations

 

 

Start of Preview


 
 
AGREEMENT AND PLAN OF MERGER
 
Among
 
BASELL AF,
 
BIL ACQUISITION HOLDINGS LIMITED
 
and
 
LYONDELL CHEMICAL COMPANY
 
Dated as of July 16, 2007


 
TABLE OF CONTENTS
 
   
Page
     
 
ARTICLE I
 
     
 
THE MERGER
 
 
   
1.1
The Merger; Effective Time of the Merger
1
1.2
Closing
1
1.3
Effect of the Merger
2
1.4
Certificate of Incorporation and Bylaws
2
1.5
Directors and Officers
2
1.6
Convertible Debentures
2
     
ARTICLE II
 
EFFECT OF THE MERGER ON THE CAPITAL STOCK OF THE COMPANY AND
MERGER SUB; EXCHANGE OF CERTIFICATES
     
2.1
Effect of the Merger on Capital Stock
3
2.2
Appraisal Rights
4
2.3
Treatment of Company Options
4
2.4
Treatment of Restricted Company Common Stock
5
2.5
Payment for Performance Units
5
2.6
Payment for Securities
5
 
ARTICLE III
 
REPRESENTATIONS AND WARRANTIES
     
3.1
Representations and Warranties of the Company
9
3.2
Representations and Warranties of Parent and Merger Sub
27
 
ARTICLE IV
 
COVENANTS RELATING TO CONDUCT OF BUSINESS PENDING THE MERGER
     
4.1
Conduct of Business by the Company Pending the Merger
30
4.2
No Solicitation
35
 
ARTICLE V
 
ADDITIONAL AGREEMENTS
     
5.1
Preparation of Proxy Statement
38
5.2
Access to Information
39
5.3
Stockholders' Meeting and Board Recommendation
40

i


5.4
Regulatory Approvals
40
5.5
Employee Matters
43
5.6
Indemnification; Directors' and Officers' Insurance
44
5.7
Agreement to Defend
46
5.8
Public Announcements
47
5.9
Advice of Certain Matters; Control of Business
47
5.10
Conveyance Taxes
47
5.11
Investigation by Parent and Merger Sub; No Other Representations or Warranties
47
5.12
Financing
48
5.13
Reasonable Best Efforts; Notification
49
5.14
Rule 16b-3
51
5.15
New Jersey Industrial Site Recovery Act
51
5.16
Tender Offer
51
5.17
Business of Parent
53
 
ARTICLE VI
 
CONDITIONS PRECEDENT
     
6.1
Conditions to Each Party's Obligation to Effect the Merger
53
6.2
Additional Conditions to Obligations of Parent and Merger Sub
54
6.3
Additional Conditions to Obligations of the Company
55
 
ARTICLE VII
 
TERMINATION
     
7.1
Termination
55
7.2
Notice of Termination; Effect of Termination
57
7.3
Expenses and Other Payments
57
 
ARTICLE VIII
 
GENERAL PROVISIONS
     
8.1
Schedule Definitions
58
8.2
Nonsurvival of Representations, Warranties and Agreements
58
8.3
Notices
58
8.4
Rules of Construction
59
8.5
Counterparts
61
8.6
Entire Agreement; No Third Party Beneficiaries
61
8.7
Governing Law; Venue; Waiver of Jury Trial
61
8.8
No Remedy in Certain Circumstances
62
8.9
Assignment
63
8.10
Affiliate Liability
63
8.11
Specific Performance
63

ii


8.12
Joint Liability
63
8.13
Amendment
63
8.14
Extension; Waiver
64

iii

 
INDEX OF DEFINED TERMS
 
Definition
Section

Adverse Recommendation Change
37
Affiliate
8
Agreement
1
Alternate Financing
50
Annual Report
33
Antitrust Authority
42
Antitrust Laws
42
Antitrust Prohibition
42
Appraisal Shares
4
Book-Entry Shares
6
Business Day
2
Cap Amount
47
Certificate of Merger
1
Certificates
6
Closing
1
Closing Date
2
Code
19
Company
1
Company Affiliate
64
Company Bylaws
10
Company Certificate of Incorporation
10
Company Common Stock
3
Company Contracts
26
Company Convertible Notes
2
Company Disclosure Letter
9
Company Intellectual Property
23
Company Material Adverse Effect
10
Company Permits
16
Company Preferred Stock
11
Company Required Vote
39
Company SEC Documents
14
Company Stock Option
5
Company Stock Plans
5
Company Termination Fee
58
Confidentiality Agreement
40
Continuing Directors
53
Convertible Note Notice Date
3
Corporate Officers
34
Debt Commitment Letter
29
Debt Financing
49
DGCL
1

iv


Divestiture Action
42
Effective Time
1
Employee Benefit Plan
19
Encumbrances
12
Environmental Laws
24
ERISA
19
ERISA Affiliate
19
Exchange Act
13
Fin 48
33
First Eligible Closing Date
2
Foreign Benefit Plan
19
GAAP
14
Governmental Entity
13
Hazardous Materials
24
Indemnified Liabilities
46
Indemnified Persons
45
Indenture
2
Intellectual Property
23
Interim Period
53
ISRA
52
knowledge
17
Letter of Transmittal
6
Marketing Period
2
Material Leased Real Property
26
Material Real Property Lease
27
Merger
1
Merger Consideration
3
Merger Sub
1
Minimum Condition
52
New Commitment Letter
50
New Jersey Property
52
Notice of Adverse Recommendation Change
37
Option Consideration
5
Option Surrender Agreement
5
Owned Real Property
26
Parent
1
Parent Closing Option
2
Parent Disclosure Letter
27
Parent Financial Statements
31
Parent Group
43
Parent Material Adverse Effect
27
Paying Agent
6
Payment Fund
6
PBGC
20
Performance Unit Consideration
5
Performance Units
5

v


Permitted Encumbrances
24
Person
7
Premerger Notification Rules
41
Proxy Statement
13
Quarterly Report
33
Release
24
Representatives
40
Right
12
Rights Agreement
12
Rights Agreement Amendment
27
Sarbanes-Oxley Act
14
SEC
14
Section 203
26
Securities Act
14
Significant Subsidiary
10
Subsidiary
11
Superior Proposal
39
Surviving Corporation
2
Takeover Proposal
38
Tax Returns
18
Taxes
18
Tender Offeror
52
Terminable Breach
57
Termination Date
57
Third Party
39
Title IV Plan
20
Transaction Agreements