TITLE

Lanxess pursues Degussa

AUTHOR(S)
Williams, Dede
PUB. DATE
May 2007
SOURCE
ICIS Chemical Business;5/14/2007, Vol. 2 Issue 66, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Lanxess chief executive officer (CEO) Axel Heitmann expressed his desire to pursue a merger with Degussa to create a second major German chemical player. Heitmann said that Lanxess would be prepared to offer €4-6 billion debt-free for Degussa, without private equity backing. Lanxess could only acquire Degussa if the initial public offering (IPO) planned by its current owner, RAG, were to fail. Degussa's management has openly rejected Heitmann's advances .
ACCESSION #
25393682

 

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