Exxon Mobil joins three other suitors in submitting non-binding offers for Shell’s U.S. chemicals business valued at $8 billion.
Exxon Mobil is competing to acquire Shell’s U.S. chemicals business, which could be worth $8 billion. The company is among four potential buyers, including LyondellBasell, Apollo Global Management, and Kuwait Petroleum Corporation, that have submitted non-binding offers for the division.
Shell’s chemicals business has drawn interest ranging from partial to full acquisition proposals. The sale process is ongoing, with no final bids confirmed. The division’s valuation reflects its strategic importance in the U.S. petrochemicals market.
No immediate market reaction was reported following the news. The deal’s outcome could reshape competition in the sector if completed.