Thursday 21 May 2015

RARE ALERT: Evonik said to have rekindled EURO 25 billion merger with Royal DSM - part 3

Croda International's shares perked up 3pc in late afternoon trade after Reuters/ Digital Look reported Germany's Evonik may interested in the London-listed company.

Here is a link to the Digital Look report:

Clearly, the rumour mill is going into overdrive about which company Evonik is planning to bid for. Indeed, all week I have had people/sources bending my ear about Clariant and how the Swiss company is in actual fact Evonik's true takeover target.

Now, to be clear, I stand by my original story from last week about Evonik approaching Royal DSM, the Netherlands-based chemicals company.

However, given both Clariant's and Royal DSM's rejection of Evonik's overtures I'm presuming the the German company is keeping its options open, as Bloomberg reported last year.

Hopefully, I will have more on this situation over the next few days, so keep an eye out on little old Betaville...

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