RELIANCE'S BIG BID

Dow Chemical. Germany's BASF. And now, Reliance Industries may add its name to the list of the world's top petrochemical giants. On Nov. 21 it offered around $12 billion for bankrupt LyondellBasell Industries, a once-American, now Dutch plastics manufacturer. Cash-rich Reliance could pay off the hefty price tag in less than two years, say analysts. While Indian companies have had a checkered history buying troubled overseas assets--see Tata Motors and Jaguar Land Rover--Reliance chief Mukesh Ambani, India's richest man, is a disciplined and ruthless negotiator. Bankers expect his all-cash offer will trump cash-and-stock bids from unnamed rivals.