Clariant denies takeover talks with Evonik
Swiss chemicals specialist Clariant AG [VTX:CLN] is not in talks with Evonik Industries AG [ETR:EVK] over a potential takeover, according to a Clariant spokesperson.
It has been reported that German-based Evonik Industries was considering a bid for Clariant which could value the Swiss firm at CHF 23 (EUR 21.93) per share or CHF 7.3bn (EUR 6.96bn) in total.
Clariant is happy with the firm’s current portfolio, as it is and believes it is the best owner for the company, the spokesperson said in response to questions regarding the market rumours. The spokesperson added that the rumours have been going on for over six months.
The company does not have any plans for large M&A transactions at the moment and, if anything, it would only be small bolt-on acquisitions with small-cap businesses, he added.
Today’s reports could be an attempt by Evonik to exert pressure on Clariant’s expectations for a higher offer price, a sector banker speculated.
Evonik Industries declined to comment on the market speculation.