Investors woke up on Tuesday to see the shares of petrochemical company Braskem melting nearly 20 percent after merger talks with LyondellBasell collapsed. But why exactly did the Dutch company give up on an acquisition that would transform it into the global leader of thermoplastic resin? The answer lies in the financial woes of Braskem’s controllers, a disaster in the state of Alagoas and trouble with American securities authorities.
Natália Tomé Scalzaretto has worked for companies such as Santander Brasil and Reuters, where she covered news ranging from commodities to technology. Most recently, worked as an Editor for Trading News, the information division from TradersClub investor community.