Media reports: Adnoc wants to take over Covestro
The oil company Abu Dhabi National Oil (Adnoc) is apparently interested in taking over the German company Covestro. This is reported by several media.
The German news magazine “Spiegel“, among others, citing the financial news agency Bloomberg and the news agency Reuters, reports that Adnoc is planning to invest billions in the plastics group Covestro. According to the report, there has already been an informal offer with a price of around EUR 55 per share. In total, the offer would thus amount to more than EUR ten billion.
Further talks?
According to the website tagesschau.de, Covestro has rejected this takeover proposal as insufficient. Accordingly, a takeover poker could develop, as Covestro is reportedly ready for further talks if a better offer is made.
