FRANKFURT (Reuters) – Germany’s Covestro, the plastics and chemicals maker that is in talks with suitor Abu Dhabi National Oil Company (ADNOC) over a takeover approach, said on Thursday it had ended a share buyback program ahead of schedule.
Covestro, whose buyback of 200 million euros ($210.96 million) falls short of the originally intended 500 million euros, cited “the current overall situation.”
Covestro shares have risen sharply since June, when news of ADNOC’s approach became public.
($1 = 0.9480 euros)
(Reporting by Tom Sims; Editing by Chris Reese)
