Streetbeat News

COVTY

Covestro AG

https://www.covestro.de/

CEO

Markus Steilemann

Open

30.18

Mkt cap

11B

Volume

100

High

30.18

P/E Ratio

-41.34

52-wk high

32.60

Low

30.18

Div yield

N/A

52-wk low

24.12

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.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2024 | 9:30 am

Covestro and Li Auto have signed a Memorandum of Understanding to collaborate on sustainable material solutions for next-generation vehicles. They will focus on developing engineering plastics from bio-waste and recycled sources for automotive components, including lighting and smart systems.

Portfolio Pulse from Benzinga Newsdesk

September 11, 2024 | 9:06 am

Abu Dhabi National Oil Co. (ADNOC) is reportedly planning to increase its takeover offer for Germany's Covestro AG to about €60 per share, valuing the company at approximately €11.3 billion ($12.3 billion). This comes after Covestro rejected an initial offer from ADNOC as 'too low'. The new proposal includes job guarantees and an $8 billion investment post-deal. Covestro's Q3 sales were down 22.7% with EBITDA decreasing by 8.3%, aligning with their guidance. Covestro's stock (COVTY) closed lower by 1.15% at $29.25 on Wednesday.

Portfolio Pulse from Lekha Gupta

December 21, 2023 | 2:01 pm

Covestro AG (OTC:COVTY) has rejected a $12 billion takeover proposal from Abu Dhabi National Oil Co (ADNOC), citing the offer as 'too low'. The offer represents a per-share price in the mid-50 euros, compared to Covestro's closing price of 40.31 euros as of 19th June.

Portfolio Pulse from Lekha Gupta

June 22, 2023 | 3:16 pm

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