# Chevron Phillips Chemical bids over $15B for Nova Chemicals, sources say

Chevron Phillips Chemical has offered to acquire Nova Chemicals for more than $15 billion including debt, according to people familiar with the matter. Nova makes expandable polystyrene and resins.

- Type: Acquisition
- Announced: 2019-06-21
- Where: United States
- Value: $15.0B
- Status: rumored
- Products: expandable polystyrene, resins
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [NOVA Chemicals](https://endata.com/companies/2940.md) (target)
- [Chevron Phillips Chemical](https://endata.com/companies/9058.md) (acquirer)

## Sources

- [reuters.com](https://www.reuters.com/article/business/exclusive-chevron-phillips-chemical-in-bid-to-acquire-nova-chemicals-sources-idUSKCN1TL2OA/), 2019-06-21: "Chevron Phillips Chemical Company, a joint venture between Chevron Corp and Phillips 66, has offered to acquire Nova Chemicals Corp for more than $15 billion including debt."
- [woodmac.com](https://www.woodmac.com/press-releases/chevron-phillips-chemical-in-$15-billion-bid-to-acquire-nova-chemicals/), 2019-06-21: "Chevron Phillips (CPCHEM), a joint venture (JV) between Chevron and Phillips 66, has made a US$15 billion bid to acquire Nova Chemicals, owned by UAE-based Mubadala."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.