Financial Times Reported Earlier, Abu Dhabi National Oil Company Expected To Make A Formal Offer To Acquire Covestro For ~14.4B Euros
Portfolio Pulse from Benzinga Newsdesk
Abu Dhabi National Oil Company is expected to make a formal offer to acquire Covestro for approximately 14.4 billion euros. This acquisition could impact Covestro's stock, which is traded as an ADR under the symbol COVTY in the US.
September 11, 2024 | 9:30 am
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Abu Dhabi National Oil Company is expected to make a formal offer to acquire Covestro for approximately 14.4 billion euros. This could lead to a positive impact on Covestro's ADR, COVTY, as acquisitions often result in a premium on the stock price.
The acquisition offer by Abu Dhabi National Oil Company for Covestro is likely to result in a premium on Covestro's stock price, as is common in acquisition scenarios. This is expected to positively impact the US-traded ADR, COVTY.
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