Abu Dhabi National Oil expected to make formal offer for Covestro
By
Iain Gilbert
Last Updated
After circling it for over twelve months, Covestro opened its books to ADNOC back in June and agreed to hold in-depth talks, based on an improved indicative bid of €11.7bn, or €0.62 on a per share basis, and hopes that the pair can reach an agreement on core aspects, including its growth strategy.
As of 1145 BST, Covestro shares were up 1.19% at €55.96 each.
Reporting by Iain Gilbert at Sharecast.com