# Covestro agrees to enter negotiations with ADNOC for $12.5B takeover

German polymers firm Covestro has agreed to enter concrete negotiations with Abu Dhabi National Oil Company (ADNOC) after ADNOC made an offer of $12.5 billion.

- Type: Acquisition
- Announced: 2024-06-27
- Where: Germany
- Value: $12.5B
- Status: announced
- Products: specialty chemicals, raw materials for primers, inks, adhesives
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Covestro](https://endata.com/companies/1705.md) (target)
- [Abu Dhabi National Oil Company](https://endata.com/companies/5511.md) (acquirer)

## Sources

- [ecoplasticsinpackaging.com](https://ecoplasticsinpackaging.com/mergers-acquisitions/covestro-open-to-adnoc-takeover/), 2024-06-27: "Covestro has agreed to enter 'concrete negotiations' with the Abu Dhabi National Oil Company (ADNOC) after the latter made an offer of $12.5 billion."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.