Reuters logo
Lanxess jumps on market talk of interest by Dow Chemical
February 7, 2013 / 9:36 AM / 5 years ago

Lanxess jumps on market talk of interest by Dow Chemical

FRANKFURT (Reuters) - Shares in Lanxess AG (LXSG.DE) jumped 4 percent on Thursday, with several traders pointing to market talk of takeover interest by U.S.-based Dow Chemical Co DOW.N.

“There is a rumor that Dow Chemical wants to offer 70 to 80 euros (per share) for Lanxess,” one of the traders said.

Shares in Lanxess, which has a market value of 5.1 billion euros ($6.9 billion), were up 4 percent at 63.73 euros.

Lanxess and Dow Chemical declined to comment on the rumors.

Dow Chemical said, though, it will continue to use its cash to pay down its $20.99 billion debt load and for shareholders.

Reporting by Hakan Ersen, David Brett, Francesco Canepa, Andrea Lentz, Frank Siebelt and Ernest Scheyder; Writing by Maria Sheahan

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below