Covestro AG : Formal offer launched by ADNOC, as expected
>Offering at € 62/share, 50%+1 minimum acceptance, all else untouched - ADNOC yesterday officially launched a voluntary takeover bid for Covestro, offering € 62/share, in line with long-term speculations and highlighted by Covestro management as a ‘good starting point for discussion’ back in June 2024. The minimum acceptance rate was set at 50%+1 share. The investment agreement between Covestro and ADNOC includes a broadly unchanged organizational and governance stru...Covestro AG is a global supplier of high-tech polymer materials and application solutions developed for these materials. Co. produces precursors for polyurethane foams and the high-performance plastic polycarbonate in addition to raw materials for coatings, adhesives and sealants as well as specialty products, including high-quality films. Other precursors such as chlorine and by-products like styrene are part of Co.'s range of products.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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