BASF in advanced talks to acquire Cognis – sources

FRANKFURT, May 7 (BestGrowthStock) – BASF (BASF.DE: ), the world’s
largest chemical maker by sales, is in advanced talks to take
over German additives supplier Cognis, three sources with
knowledge of the matter told Reuters on Friday.

A bid could emerge by next week, one of the sources said.

Cognis’s owners Permira [PERM.UL] and Goldman Sachs Capital
Partners (GS.N: ) have launched a campaign to sell the company
outright even as it prepares to go public, sources have said.

U.S specialty chemicals maker Lubrizol (LZ.N: ) has joined
other potential bidders in a deal that could value the target at
around 3 billion euros ($4 billion), a source close to the
matter told Reuters last month. [ID:nLDE63D0IR]

A spokeswoman for BASF declined to comment.

German business daily Financial Times Deutschland reported
on Friday that BASF’s supervisory board has given the green
light to bid for Cognis, citing people familiar with the matter.

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(Reporting by Frank Siebelt, Alexander Huebner and Ludwig
Burger; Editing by Michael Shields)

BASF in advanced talks to acquire Cognis – sources