BASF says to look for attractive M&A targets in oil and gas

LUDWIGSHAFEN, Germany Tue Feb 25, 2014 5:55am EST

LUDWIGSHAFEN, Germany Feb 25 (Reuters) - BASF head Kurt Bock told a news conference on Tuesday that the chemicals group would continue to look for attractive takeover targets in the oil and gas industry, when asked about any interest in German utility RWE AG's fossil fuel unit.

Sources familiar with the transaction told Reuters last month that BASF's Wintershall unit made a tentative offer of 3.5 billion euros ($4.8 billion) for RWE's DEA unit, below rival bids by a consortium of U.S. private equity firm KKR and Kufpec as well as by Russian tycoon Mikhail Fridman.

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