# ADNOC International launches voluntary public takeover for Covestro

ADNOC International Limited entered into an investment agreement with Covestro AG and launched a voluntary public takeover offer for all shareholders at €62 per share on October 1, 2024. The deal values Covestro at approximately AED 254 per share.

- Type: Acquisition
- Announced: 2024-10-01
- Where: Germany
- Value: $16.0B (14.7B EUR)
- Status: announced
- Products: specialty chemicals, performance materials, coatings, adhesives, plastics
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Covestro](https://endata.com/companies/1705.md) (target)
- [ADNOC International Limited](https://endata.com/companies/80163.md) (acquirer)

## Sources

- [adnoc.ae](https://www.adnoc.ae/en/news-and-media/press-releases/2024/adnoc-international-announces-voluntary), 2024-10-01: "ADNOC today announced that ADNOC International Limited (ADNOC International), has entered into an investment agreement with Covestro AG (Covestro), one of the world’s leading chemical players, and launched a voluntary public takeover offer to all shareholders for a cash consideration of AED254 (€62)"
- [covestro.com](https://www.covestro.com/press/covestro-signs-an-investment-agreement-with-adnoc-and-supports-adnocs-public-takeover-offer-to-all-covestro-shareholders/), 2024-10-01: "We are convinced that the agreement reached today with ADNOC International is in the best interest of Covestro, our employees, our shareholders, and all other stakeholders."
- [covestro.com](https://www.covestro.com/investors/news/board-of-management-and-supervisory-board-of-covestro-ag-support-adnoc-internationals-public-takeover-offer/), 2024-11-07: "We have thoroughly reviewed the offer document published by ADNOC International in accordance with our obligations under stock corporation law."

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