Clariant in takeover talks with BTP
The specialty chemicals group, Clariant, is in takeover talks with the British fine chemicals company, BTP. The Financial Times newspaper said analysts had suggested an offer of around SFr15 a share, valuing the company at more than SFr2.5 billion.
The specialty chemicals group, Clariant, is in takeover talks with the British fine chemicals company, BTP. The Financial Times newspaper on Thursday said analysts had suggested an offer of around SFr15 a share, valuing the company at more than SFr2.5 billion.
Clariant confirmed it was in negotiation but gave no further details.
Rumours of a possible Clariant bid for BTP have abounded for several weeks after talks fell through to buy another British company, Laporte. Clariant pulled out of the deal because it couldn't overcome objections from its German shareholder, Hoechst, which had a 45 per cent stake in Clariant.
Hoechst has since sold its stake in the company.
The news of a possible BTP-Clariant tie-up comes three days after a merger between the pharmaceutical giants, Glaxo Wellcome and Smithkline Beecham.
The deal will create the world's biggest pharmaceuticals group, worth nearly $200 billion.
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