Firms flock to Unilever sale
15 Jan 2000
Rumours are abounding of a bidding war over the sale of Unilever's speciality chemicals division, which was put on the market in February (see PE March, page 5). Several of the world's largest chemicals firms are considering bids for the group, according to the Financial Times.
The companies embroiled in the rumours are ICI, DuPont, and Akzo Nobel. ICI is reported to have offered £4billion for the businesses, but refuses to comment on the rumours. The businesses on the block include fragrances and flavours business Quest International and nickel catalyst manufacturer Unichema. These posted revenues of some £3billion last year. Unilever aims to raise about £6billion from their sale to expand its consumer products operations. The sale is expected to be completed by September.
