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No Substance to Wacker Bid Talks

4:30 AM MST | February 11, 2010 | Natasha Alperowicz

Press reports citing market talk that Wacker Chemie's major shareholder Peter-Alexander Wacker has been approached by BASF seeking a stake in the company, have been dismissed by people familiar with the situation. Both Wacker and BASF declined to comment. The Wacker family owns just under 70% of Wacker Chemie's stock with the remaining 30% listed on the Frankfurt Stock Exchange. "I don't see why Wacker's major shareholder should consider such a move, there is no strategic reason for this," one source tells CW. There is also no financial reason for...

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