in this issue
World News and Views :: Top of the News
ICI Rejects $14-Billion Bid From Akzo Nobel
2:29 PM MDT | July 31, 2007 | Kerri Walsh
ICI has rejected an informal £7.2-billion ($14.2 billion) takeover bid by Akzo Nobel. Akzo approached ICI on June 4 to discuss a possible cash offer for the company, but ICI’s board unanimously rejected the proposal “on the grounds that it significantly undervalues ICI.” The board “is very confident in the group’s strategy and strong growth prospects,” ICI adds. Analysts also say that a higher Akzo bid may not even succeed. Akzo offered ICI £6.00/share, and could go as high as £6.50/share and still make the...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee