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BASF Considering Bid for DuPont

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Dow Jones reports BASF is considering a counter bid for DuPont, who agreed to merge with Dow Chemical in December. BASF is currently working with advisers and financing banks to examine the merits of a counter bid for the $55 billion chemical company. BASF has not made a decision yet about proceeding with an offer, however, as they have yet to formally approach DuPont. BASF started working with advisers last year to explore a bid for DuPont and talked with the company before the Dow-DuPont merger was announced.

BASF is the world’s third-largest producer of weed-killers, insecticides and other pesticides, after Syngenta and Bayer, according to Bloomberg. Buying DuPont would add to its agricultural chemical portfolio and give it the second-biggest producer of crop seeds.

Source: NAFB News service