Brenntag falls on takeover talks with U.S. rival Univar

Univar Solutions

28/11/2022 07:36

** Shares in Brenntag  BNRGn.DE  are down 4.7% in early
Frankfurt trade after the German chemicals distributor said it
held preliminary discussions with U.S. rival Univar Solutions
Inc  UNVR.N  regarding a potential acquisition
    ** Brenntag said the Univar talks are ongoing and that it
was not foreseeable whether there will be any kind of
transaction 
    ** "Could expect low open for Brenntag as price, financing
and strategic logic not clear so far," a local trader says,
addling that the deal seems a U-turn in priorities
    ** Baader Helvea says such a huge acquisition might demand
equity injections and therefore the market might look cautious
on this potential deal before all data are available
 (Reporting by Bartosz Dabrowski in Gdansk)
 ((bartosz.dabrowski@thomsonreuters.com; +48 58 7696560;))