ADNOC Pursues Covestro with €62 Per Share Takeover Bid

Covestro announced on Monday that it will enter negotiations with Abu Dhabi National Oil Co (ADNOC) following a takeover offer of 62 euros ($66.5) per share by the Emirati energy company. The potential acquisition underscores ADNOC's strategic investments in the chemical industry.

Covestro's said on Monday it would negotiate with suitor Abu Dhabi National Oil Co (ADNOC) based on a takeover offer of 62 euros ($66.5) per share by the Emirates' energy company.

($1 = 0.9324 euros) ($1 = 0.9325 euros)