Updated from 11:45 a.m. EDT

Lyondell Chemical ( LYO) was among the NYSE's winners Tuesday, jumping 17.3% after the company agreed to be acquired by Basell for about $12.1 billion in cash, or $48 a share.

The price reflects a 20% premium to Lyondell's closing price of $40.12 on Monday. Including debt, the deal is worth about $19 billion. "We believe this transaction offers significant value for Lyondell's shareholders," Lyondell said. "We are very pleased that Basell recognizes the value and fit of our portfolio of chemical and refining assets."

The deal should close during the next several months. Basell's buyout comes on the heels of its failed attempt to buy Huntsman ( HUN), which agreed to be acquired by Hexion Specialty Chemicals last week. Shares of Lyondell closed up $6.93 to $47.05.

Pogo Producing ( PPP) climbed 13.9% after the oil and gas producer agreed to be acquired by rival Plains Exploration & Production ( PXP) for about $3.6 billion, or $60 a share. The cash and stock deal represents a 19% premium to Pogo's closing price of $50.48 on Monday.

"Today's announcement represents a significant milestone in the proud and productive 38-year history of Pogo Producing Company," Pogo said. "This transaction with Plains Exploration & Production Company creates a combined company with impressive financial and operational strength able to successfully capture the best of opportunities in our industry."

The deal is expected to close during the fourth quarter. Shares of Pogo Producing closed up $7.02 to $57.50, while shares of Plains Exploration were down $3.31 to $47.88.

Shares of Modine Manufacturing ( MOD) vaulted 15.4% after the maker of thermal-management products reported first-quarter results and boosted its full-year outlook. The company posted earnings from continuing operations of $12.4 million, or 39 cents a share, on revenue of $444.1 million. During the year-earlier period, the company earned $20.9 million, or 65 cents a share, on revenue of $421.9 million.

Looking ahead, Modine now sees full-year earnings of $1.05 to $1.25 a share, up from previous guidance of 80 cents to $1.20 a share. The company sees revenue of $1.7 billion to $1.8 billion. Shares closed up $3.75 to $28.04.

Keystone Automotive ( KEYS) rose 7.3% after the auto-parts distributor agreed to be acquired by LKQ ( LKQX) for about $811 million in cash, or $48 a share. The price represents a 10% premium to Keystone's closing price of $43.61 on Monday.

The deal is expected to close during the fourth quarter. Shares of Keystone closed up $3.19 to $46.80, while shares of LKQ closed up $3.71, or 14.6%, to $29.09.

Shares of Stanley Furniture ( STLY) tumbled 11.8% after the furniture maker posted disappointing second-quarter results. The company reported a loss of $2.4 million, or 23 cents a share, on revenue of $67.7 million. Results included a charge of $6.6 million, or 43 cents a share.

Excluding the charge, the company would have earned 20 cents a share. Analysts polled by Thomson Financial expected a profit of 22 cents a share on revenue of $72.3 million. During the year-earlier quarter, the company earned $3.9 million, or 32 cents a share, on revenue of $77.5 million.

Looking ahead, Stanley Furniture sees full-year earnings of 65 cents to 75 cents a share on revenue of $280 million to $290 million. Analysts project earnings of $1.05 a share on revenue of $304 million. Shares closed down $2.57 to $19.16.