Covestro shares gain after Bloomberg report on ADNOC completing due diligence
28/08/2024 13:08
** Shares in Covestro 1COV.DE rise 3.4% after a Bloomberg
News report said that ADNOC has completed due diligence on its
planned bid for the German company
** The Emirati energy company could move forward with an
11.7 billion euros ($13.02 billion) offer for the chemical firm
as soon as September, sources cited in the report said
** Covestro said in June the two sides could "generally
reach a common understanding regarding core aspects of a
possible transaction including support for Covestro's further
growth strategy"
** Stock is up 5.7% YTD
($1 = 0.8987 euros)
(Reporting by Paolo Laudani)
((Paolo.laudani@thomsonreuters.com))