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Arkema Shares Soar on Report of Takeover Approach

1:21 PM MDT | July 6, 2012

The Financial Times’ Alphaville blog reported today that Arkema has received multiple takeover approaches, valuing the company at €5.5 billion ($6.8 billion) or more. The report sent Arkema shares 11% higher, closing at €59.28 on the Euronext Paris stock exchange today. The report follows Arkema’s successful divestment of its loss-making vinyls operations to Klesch group in a deal that closed earlier this week. Arkema could not be reached for comment...

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