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Mergers & Acquisitions
ADNOC reportedly makes bid for Covestro
by Alex Scott
June 23, 2023
| A version of this story appeared in
Volume 101, Issue 20
Abu Dhabi National Oil Company (ADNOC) has made a preliminary takeover offer for the German chemical giant Covestro, according to a report by Bloomberg. ADNOC’s offer would value Covestro at about $11 billion. Covestro declined to comment, but Bloomberg reported Covestro rejected the offer. In May, ADNOC and the private equity firm Apollo Global Management made an offer to buy a controlling stake in the Brazilian petrochemical maker Braskem.
Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society
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