Lanxess says it did not bid for Degussa and does not plan to, denies report |
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Published
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Wed, 21 Mar 2007 09:23
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FRANKFURT (AFX) - Lanxess AG said it has not made a takeover bid for Degussa AG, and does not plan to.'There was no bid and there will be no bid for Degussa,' a spokesman said, who was reacting to a Rheinische Post newspaper report.According to Rheinische Post -- which cited a Lanxess working paper -- Lanxess was prepared to pay 4-6 bln eur for Degussa but first wanted to examine the latter's books.A company spokesman said to AFX News that Lanxess had in the past mulled a takeover of Degussa, but this was before it was fully taken over by RAG AG.'But you can't propose to a bride that is not available,' added the spokesman.He said the company had previously carried out a strategic evaluation of Degussa as part of its growth plan.Lanxess CEO Axel Heitmann told Rheinische Post on the sidelines of yesterday's annual results news conference: 'We would be ready to acquire Degussa if we were asked to do so,' reported the newspaper.marilyn.gerlach@thomson.comdp/mog/kd/kd/jfrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Lanxess still optimistic about 2007, despite fluctuating energy costs 