Albemarle and Rhodia raise stakes
15 Jan 2000
Rhodia's bid of £455million for UK chemical company Albright & Wilson was not enough to see off rival bidders Albemarle Corporation. Albemarle upped the ante again with a new bid of nearly £500million which Albright & Wilson's board subsequently recommended to shareholders. Rhodia is not out the picture yet and is expected to up its bid again.
The increased offer may allow A&W to overlook Rhodia's superior product alignment in the phosphate sector, while Albemarles product base is in bromides. (see PE April p.7).
