Brenntag : Preliminary takeover discussions with Univar terminated; cap hike overhang risk eliminated, appealing discount to peers; upgrade to Outperform (Neutral)
>Brenntag terminates preliminary takeover discussions with Univar - Brenntag confirmed the termination of preliminary takeover discussions with Univar, the global #2 in chemicals distribution with a 2.8% global market share after Brenntag's 5.0%. The company provided no further details. This reverses the unexpected statement in late November 2022 when Brenntag confirmed preliminary takeover talks with Univar thus wrong-footing us and investors.Much critic...Brenntag is a chemical distributor. Co. provides its customers and suppliers a range of services and global supply chain management as well as a chemical distribution network in Europe, North and Latin America as well as in the Asia Pacific region. Co. manages its business through its regionally structured segments in Europe, North America, Latin America and Asia Pacific. Co. provides a range of products as well as services such as just-in-time delivery, product mixing, blending, repackaging, inventory management, drum return handling as well as technical and laboratory services for specialty chemicals.
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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