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Arkema has attracted takeover approaches - report
PARIS, July 6 |
PARIS, July 6 (Reuters) - French speciality chemicals group Arkema has received multiple takeover approaches valuing the business at 5.5 billion euros ($6.81 billion) or more, the Financial Times' Alphaville blog reported without citing sources.
The news sent shares sharply higher. At 1238 GMT they were trading up 13.85 percent at 60.93 euros, outperforming the SBF120 index, down 0.63 percent.
Attention from peers, which Alphaville said could include DuPont and Germany's BASF, comes in the wake of Arkema's recent disposal of its loss-making vinyls unit to Swiss-based Klesch group, according to the blog.
Arkema declined to comment.
A note published by French brokerage Cheuvreux on Friday cited Arkema among the main takeover targets in Europe due to the current low valuations.
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