Akzo Confident in Refuting Shareholder Arguments in Court

Akzo Nobel is confident that the Enterprise Chamber in Amsterdam on Monday will find that it acted correctly in not granting the request for an extraordinary shareholders meeting fromfeatured

Former Dutch Senator Doubts PPG Goes Hostile

With additional reporting by Rachel Rigby – A former member of the Senate of the Netherlands told CTFN that he doubts that PPG will go hostile with its offer for AkzoNobel, because it wouldfeatured

Axiall Faces Limited Options as Westlake Closes In

A former Axiall executive told CTFN that the company has few options beyond the recent hostile bid from Westlake Chemical. He said that Axiall’s board probably has a “magic number” that it would like Westlake to reach before the deal could ultimately turn friendly.featured

Westlake Pursues Axiall as Polyethylene Faces Supply Surge

Westlake Chemical’s fight to replace the board of Axiall comes as excess polyethylene capacity floods the global marketplace, two industry observers tell CTFN, raising questions about the outlook for polyethylene manufacturers. “The polyethylene business will be heading into the dumpster pretty soon,” said Phil Karig, a plastics industry supply chain andfeatured

Analysts Cautious on Shareholder Support for Vonovia Bid

There is a 60:40 chance that shareholders of German residential real estate group Deutsche Wohnen will support Vonovia’s hostile takeover bid for the company, analysts told CTFN. Deutsche Wohnen’s shareholders have until January 26 to tender their shares and approve the €14 billion offer, which the target’s CEO described as a “value destructive” proposal.  For … Read Morefeatured

New Potash Bid for K+S Needs Stable Prices

Analysts have played down rumors of Potash Corp.’s revived interest in German peer K+S Aktiengesellschaft, although they do not rule out that the fertilizer giant will launch a revised bid sometime next year. In late November, German newsletter Platow reportedly said that Potash was working on a fresh takeover bid for the Kassel-based potash and … Read Morefeatured

Clock Ticking on Suncor’s Offer for Canadian Oil Sands

With the clock ticking down on Suncor Energy’s unsolicited offer for Canadian Oil Sands, all eyes are now on next week’s crucial hearing before the Alberta Securities Commission that will likely determine the fate of Canadian Oil Sands’ new “shareholders rights plan.” One close observer of Canada’s merger scene told CTFN this week that history … Read Morefeatured

Suncor Bid for Canadian Oil Sands Comes Amid Political Upheaval

It was called the “miracle on the prairies,” an historic election victory that the Canadian Broadcasting Company described as a “massive shock that turns Canadian politics on its head.” But the unexpected victory last May by the left-of-center New Democratic Party (NDP) in Alberta, the heart of Canada’s oil sands boom, will certainly have an … Read Morefeatured

Suncor Bid for Canadian Oil Sands Could Spur Counteroffers

Suncor Energy Inc.’s hostile bid for Canadian Oil Sands Ltd. is not scheduled to play out until year’s end, but do not be surprised if other energy companies step up with counteroffers in the interim, the portfolio manager of a Canadian investment firm told CTFN. “People are wondering if Exxon or Imperial will step up … Read Morefeatured

Hostile Bid for K+S by Potash Should See Few German Hurdles

The possibility that PotashCorp will acquire K+S AG remains uncertain. Both companies have been at odds since Potash first revealed its $8.7 billion, or €41 per share, cash bid at the end of June. The bid was later rejected by K+S as too low. Potash made two attempts in July and August to engage with … Read Morefeatured

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