India's Reliance bids for LyondellBasell

Reliance submits bid to acquire the world’s third largest petrochemical Company LyondellBasell. The Company had filed for protection under chapter 11 in January 2009.  This Company has a market capitalization of $55 billion dollars.  LyondellBasell sources confirmed having received non binding offer from RIL which is preliminary in nature. Indian Corporates till a few years back could never even dream of owning such large companies in the world and it shows that India has truly arrived on the global scene with a bang.