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Covestro AG (COVTY)
- Reuters
Covestro: no deadline to conclude ADNOC talks, will take the necessary time
Covestro said on Wednesday that it is under no legal deadlines to come to a decision in talks with suitor Abu Dhabi National Oil Company (ADNOC) and that it would take the time it needs to consider a potential takeover by ADNOC . "We will take the time that is needed to come to the best possible solution for shareholders and other stakeholders," CEO Markus Steilemann told shareholders at the annual general meeting, held virtually and broadcast on the internet. The chemical maker faced investor questions about the protracted negotiation, seven months after Covestro said it is in deal talks about an informal takeover offer by ADNOC.
- Simply Wall St.
Institutional investors control 66% of Covestro AG (ETR:1COV) and were rewarded last week after stock increased 3.5%
Key Insights Significantly high institutional ownership implies Covestro's stock price is sensitive to their trading...
