Covestro Enters Formal Negotiations with Adnoc

Covestro – a leading polymer materials and chemicals producer – has announced that it has entered into formal negotiations with the Abu Dhabi National Oil Company (ADNOC) for a potential transaction value of nearly €14.4 billion. Discussions first began last year, but have now moved to the next stage following an increase in ADNOC’s offer from €60 to €62 per share.