BERLIN (Reuters) – German chemicals maker Lanxess is preparing a joint bid for Dutch rival DSM’s plastics business with investor Advent, Handelsblatt newspaper reported on Friday, citing sources familiar with the matter.
The DSM unit, valued at 3 billion euros ($3.34 billion), would become part of Lanxess’ subsidiary HPM which combines similar business activities and is intended to become a basis for further acquisitions, Handelsblatt reported.
Lanxess declined to comment on the report.
($1 = 0.8982 euros)
(Reporting by Zuzanna Szymanska; Editing by Riham Alkousaa)
