Abu Dhabi National Oil Co. (#ADNOC) has submitted an increased takeover bid for German chemical company Covestro AG. The bid includes concessions to allow detailed due diligence. Covestro is in 'open-ended' talks with ADNOC over the higher bid. Brazil's federal police conducted raids as part of a probe into petrochemical producer Braskem's sinking ground havoc in Maceio, forcing about 60,000 people to be moved. Braskem's stock has been trading as though a signed deal is likely to be announced in the near term between Novonor & ADNOC, with expectations of $16-17/share and tag along rights for minority shareholders. $PBR may increase their stake in the process to take the entire enterprise private 50/50.
Abu Dhabi National Oil Co. (#ADNOC) has submitted an increased takeover bid for German chemical company #Covestro AG and offered concessions to pave the way for the start of detailed due diligence, people with knowledge of the matter tell Bloomberg. https://t.co/mXtbL9xG5Y
Brazil police launch raids over Braskem's sinking ground havoc https://t.co/3hWcFxDKm9 https://t.co/G1DP1AfCFm
$BAK trading as though a signed deal is likely going to be announced in the very near term between Novonor & Adnoc. I expect $16-17/share and tag along rights for minority shareholders. $PBR will likely up their stake in the process to take the entire enterprise private 50/50.
⚠️ BRAZIL POLICE LAUNCH RAIDS OVER BRASKEM'S SINKING GROUND HAVOC Brazil's federal police on Thursday conducted raids as part of a probe into petrochemical producer Braskem's sinking ground havoc in the city of Maceio, which has forced about 60,000 people to be moved since… https://t.co/Y7A8s1Umq1
Covestro in 'open-ended' talks with ADNOC over higher bid https://t.co/8zniSDAc4P https://t.co/McZZp7mjaO
Abu Dhabi National Oil submits an increased preliminary takeover bid for German chemical company Covestro and offers concessions to pave the way for the start of detailed due diligence, sources say https://t.co/elw88zNSsA
Covestro top shareholder urges chemicals firm to grant ADNOC due diligence https://t.co/juc2q1xZDN https://t.co/R4H9oz68T8
Brazil Special Situation trade #2 Today we added the second stock to our TCD Single Stocks portfolio (long-only): Braskem S.A. $BAK with 300 shares at $7.60. Company Profile: Braskem is the largest producer of plastics in the Americas with industrial units located in Brazil… https://t.co/dksqbS3ySU https://t.co/yZ0HboSOnv