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Deals Coming Back - June 28,2010 CW Insider
8:54 AM MDT | June 28, 2010 | Rob Westervelt
Recovery has the chemical sector quickly shedding inhibitions about M&A. BASF has sealed a deal to acquire Cognis for €3.1 billion ($3.8 billion). And Akzo Nobel reached an agreement to sell its National Starch (Bridgewater, NJ) unit to Corn Products International (Westchester, IL) for $1.3 billion in cash. Constraints on private equity have eased as well, as demonstrated by Bain Capital’s acquisition of Styron from Dow Chemical, which closed earlier this month. M&A activity has resumed but companies are being deliberate. BASF’s strategy...
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