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Chinese antitrust regulator clears LyondellBasell's deal for A. Schulman

LyondellBasell Industries NV said China's antitrust regulator, the State Administration of Market Regulation, cleared the commodity chemicals manufacturer's pending acquisition of A. Schulman Inc.

The company in February agreed to acquire A. Schulman for a total consideration of $2.25 billion. The target is a U.S.-based chemicals, plastics and refining company.

The closing of the deal remains subject to other regulatory reviews and approval by A. Schulman shareholders. In addition to China, antitrust regulators in the U.S., Brazil, Serbia and Turkey have cleared the transaction.

The deal is expected to close in the second half.