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Company News

Henkel to pay $5.5 bln for ICI units: Akzo

LONDON (Reuters) - Akzo Nobel AKZO.AS said on Monday it would sell ICI's ICI.L adhesives and electronic materials units to Germany's Henkel HNKG_p.DE for 2.7 billion pounds ($5.5 billion) if it succeeds in buying the UK firm.

ICI said earlier on Monday that it had opened its books to Akzo after received an improved 8-billion-pound ($16.3 billion) bid proposal from the Dutch group.

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