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After receiving several offers, Degussa says it has decided to enter negotiations on the sale of its construction chemicals division. In 2004, the last year for which figures are available, the division had sales of $2.1 billion and operating profits of $240 million. The proposed sale was announced just as Degussa's largest shareholder, RAG, said it wanted full control of the company. Degussa's board recommended last week that shareholders accept the RAG bid.
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