Exxon Eyes Shell’s $8 Billion U.S. Chemicals Business

Exxon is in the running for Shell’s U.S. chemicals business that could fetch $8 billion, the Financial Times reported today, citing unnamed sources familiar with developments. The U.S. supermajor is competing with LyondellBasell, Apollo Global Management, and the Kuwait Petroleum Corporation, the unnamed sources also told the publication. The potential buyers have submitted non-binding offers to Shell, with these ranging from offers to buy parts of the business to offers for the whole division. Shell’s chemicals business in the United…