BASF: LafargeHolcim no longer seems interested
(CercleFinance.com) - LafargeHolcim is reported to have decided not to make a takeover bid on BASF's construction chemicals unit, Bloomberg says.
A few months ago, the German group launched a takeover bid for this business.
LafargeHolcim deems that the takeover bid is much too high, Bloomberg says. The group was one of the last on the list of potential buyers: BASF would have asked for over 3 billion euros for this business. Now, it seems that only the Cinven fund is still in the running, Aurel BGC analysts say.
Rember that the chemical giant issed a profit warning last July, saying that growth in industrial production was around 1.5% in the first half, a lot weaker than expected.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
A few months ago, the German group launched a takeover bid for this business.
LafargeHolcim deems that the takeover bid is much too high, Bloomberg says. The group was one of the last on the list of potential buyers: BASF would have asked for over 3 billion euros for this business. Now, it seems that only the Cinven fund is still in the running, Aurel BGC analysts say.
Rember that the chemical giant issed a profit warning last July, saying that growth in industrial production was around 1.5% in the first half, a lot weaker than expected.
Copyright (c) 2019 CercleFinance.com. All rights reserved.