Canexus confronts another suitor

Canexus, a Canadian maker of pulp bleaching chemicals, has rebuffed an informal takeover approach by fellow Canadian chemical maker Chemtrade Logistics. The offer values Canexus at about $205 million. Chemtrade, which makes sulfuric acid and other inorganic chemicals, says it might raise its offer if Canexus engages in talks. Canexus had a deal to be acquired by another Canadian chemical maker, Superior Plus, but it was dropped in June after the U.S. Federal Trade Commission sought to block it, because it would create concentration in the bleaching chemicals sector.