BERLIN (Reuters) - Shares in German blue-chip company Covestro 1COV.DE rose by 9.9% in early trade on Friday after Bloomberg reported private equity firm Apollo Global Management APO.N was exploring a takeover of the plastics maker.
The talks are at an early stage and there is no certainty they will result in a deal, the report said.
“Apollo has broad experience in the plastics industry with a prior investment in LyondellBasell and unsuccessful aim to takeover RPC Group Plc, so story seems very likely,” a local trader said.
Apollo and Covestro did not immediately respond to Reuters requests for comment.
Reporting by Thomas Seythal; Editing by Riham Alkousaa
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