Linde shares up 4.5% on Dow takeover rumour

04 January 2008 16:17  [Source: ICIS news]

LONDON (ICIS news)--Linde shares gained nearly 5% on Friday amid market speculation that Dow Chemical was lining up a takeover bid for the German industrial gases group.

 

At 16:25 (CET), Linde’s shares were trading at €94.97 on Germany's XETRA stock exchange, 4.45% higher than Thursday’s close.

 

In December, US chemicals major Dow said it would consider large takeovers as $9.5bn in cash was released from its new plastics joint venture with Kuwait’s Petrochemical Industries Co (PIC).

 

“We made clear that the next step is growing our performance businesses,” said Dow spokesman Chris Huntley. “As a consequence there are rumours about what we may or may not have in our sights.”

 

The Midland, Michigan-based company has been linked with several potential takeover targets since the joint venture announcement, including Linde’s industrial gases rivals Air Liquide and Air Products.


By: Mark Watts
+44 20 8652 3214



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index