BASF piques trader interest on DuPont bid rumour

13 April 2007 17:27  [Source: ICIS news]

LONDON (ICIS news)--BASF shares rose 2.6% in late day trading on Friday as rumours surfaced of a possible €93 ($126) a share bid from DuPont.

Financial analysts dismissed the speculation that was linked by wire service reports to rumours among traders in Frankfurt and London. BASF’s share price rose close to €89 late in the day having opened at €86.7.

A possible deal was seen as having little logic behind it and the offer price suggested dismissed as being too modest. A bid premium for the Ludwigshafen, Germany based chemicals giant of at least 20% was suggested as reasonable.

BASF said it did not comment on market rumours.

($1 = €0.74)

By: Nigel Davis
+44 20 8652 3214

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