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Business

Univar Increases Chemcentral Bid

March 26, 2007 | APPEARED IN VOLUME 85, ISSUE 13

Dutch chemical distributor Univar has raised its offer for U.S. rival ChemCentral to $650 million from $600 million, and the two companies have revised their merger agreement. The move came after ChemCentral received a competing nonbinding $700 million bid from German distributor Brenntag. The revised agreement prohibits ChemCentral from soliciting or considering other takeover proposals and requires it to discontinue further acquisition discussions with Brenntag.

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