FRANKFURT--Germany's Evonik Industries AG is interested in a
takeover bid for Swiss rival Clariant AG (CLN.VX), in a deal that
would create a specialty chemicals company worth more than 20
billion euros ($21.94 billion), Financial Times reports Thursday,
citing people familiar with the matter.
Evonik has been reviewing a number of options in recent months,
as the German company has been looking to join a wave of deals in
the chemicals sector, the report says.
The report adds that one of these people said a bid for Clariant
may value the Swiss company at as much as 23 Swiss francs a share,
which would give it a market value of CHF7.3 billion, or EUR6.96
billion.
Evonik and Clariant declined to comment on the report.
Evonik has a market capitalization of EUR15.28 billion, while
Clariant is valued at about EUR6 billion.
Clariant shares trade 5.9% higher following report, while Evonik
trades 2% lower.
Newspaper website:
http://www.ft.com/intl/cms/s/0/362b29ee-d39a-11e4-a9d3-00144feab7de.html#axzz3VU6
f0qh
Write to Neetha Mahadevan at neetha.mahadevan@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires