# Chevron Phillips Chemical offers to acquire Nova Chemicals for over $15 billion

Chevron Phillips Chemical has offered to acquire Nova Chemicals for more than $15 billion including debt, according to Reuters. The deal would make Chevron Phillips the third-largest polyethylene producer in North America.

- Type: Acquisition
- Announced: 2019-07-24
- Where: Canada
- Value: $15.0B
- Status: rumored
- Products: expandable polystyrene, resins, polyethylene
- 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)
- [Mubadala Investment Company](https://endata.com/companies/5162.md) (investor)
- [Chevron Phillips Chemical](https://endata.com/companies/9058.md) (acquirer)

## Sources

- [cpecn.com](https://www.cpecn.com/news/chevron-phillips-chemical-said-to-acquire-nova-chemicals/), 2019-07-24: "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, according to Reuters."

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