Media reports: Adnoc wants to take over Covestro

The oil company Abu Dhabi National Oil (Adnoc) is apparently interested in taking over the German company Covestro. This is reported by several media.

The Adnoc Group from Abu Dhabi reportedly wants to take over Covestro. Image source: NicoElNino - (symbol image)

The German news magazine “Spiegel“, among others, citing the financial news agency Bloomberg and the news agency Reuters, reports that Adnoc is planning to invest billions in the plastics group Covestro. According to the report, there has already been an informal offer with a price of around EUR 55 per share. In total, the offer would thus amount to more than EUR ten billion.

Further talks?

According to the website, Covestro has rejected this takeover proposal as insufficient. Accordingly, a takeover poker could develop, as Covestro is reportedly ready for further talks if a better offer is made.

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