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Germany: BASF considering bid for DuPont

By  |  March 6, 2016
Germany: BASF considering bid for DuPont

BASF SE is working with advisers and financing banks to examine the merits of making a counter bid for DuPont the $55 billion chemical company that agreed to a merger with Dow Chemical in December, people with knowledge of the matter said.

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    The Ludwigshafen, Germany-based chemical producer hasn’t made a decision yet about proceeding with an offer, said the people, who asked not to be identified because the information is private. No formal approach has been made to DuPont, the people said.

    BASF, which has been working with advisers since last year to explore a bid for DuPont, held talks with the US company before it agreed to merge with Dow, said the people. Those talks didn’t progress, the people said.

    BASF is the world’s third-largest producer of weed-killers, insecticides and other pesticides, after Syngenta AG and Bayer AG, according to data compiled by Bloomberg. Buying DuPont would add to its agricultural chemical portfolio and give it the second-biggest producer of crop seeds, such as corn genetically modified to withstand insects and herbicides. Monsanto is the largest seed company.

    Full content: Bloomberg

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