Dow-DuPont Mega-Takeover BASF to Make Counter Offer for DuPont?
The Dow-DuPont union of giants seemed to be in the bag – yet, according to several industry experts and news agencies, BASF, currently the world’s biggest chemical player is considering a counter offer for the US company DuPont.
Frankfurt/Germany – It seem as if BASF doesn’t want to give up their title as the world’s biggest producer of chemicals: According to Downstreamtoday and news agency Bloomberg the German based chemicals behemoth is working on a counteroffer together with several banks and consultants. A final decision to enter the bidding has nevertheless not been made yet. Company speakers did not comment these statements. Only one month ago, BASF CEO Kurt Bock was skeptical about a possible takeover, claiming to be content with the current portfolio and structure of his company.
The merger of Dow and DuPont could create a new gigantic chemicals company worth US $ 130 billion. The combined company shall be named DowDuPont with headquarters in both Midland, Michigan and Wilmington, Delaware. Following the transaction, the two partners companies intend to subsequently pursue a separation of DowDuPont into three independent, publicly traded companies through tax-free spin-offs within the next two years.