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ADNOC made an informal offer of 57 euros per share in July. Covestro confirmed in September that it had entered into "open-ended discussions" with the suitor over a takeover approach.
Representatives for Adnoc and Covestro declined to comment. Adnoc has been pursuing Covestro since the middle of last year, part of the Abu Dhabi company’s push to diversify internationally.
Covestro AG (Leverkusen, Germany), a manufacturer of high-quality polymer materials and their components, has signed an investment agreement with the Abu Dhabi National Oil Co. (ADNOC) Group ...
Covestro is a leading specialty chemicals producer in Germany, facing challenges due to declining commodity prices and high energy costs. The company is in talks with ADNOC for a potential ...
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EU probes UAE oil giant’s purchase of Germany’s CovestroPlastics maker Covestro accepted a bid – valuing the company at €12 billion – from the Abu Dhabi National Oil Company in ...
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