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Will ADNOC complete the acquisition of Covestro by the end of 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official press releases from ADNOC or Covestro, financial news outlets
Story
ADNOC Seals €14.7 Billion Deal to Buy Germany's Covestro
Oct 1, 2024, 06:58 AM
Abu Dhabi National Oil Company (ADNOC) has reached an agreement to acquire German chemical producer Covestro AG for approximately €14.7 billion ($16.4 billion). The deal represents one of the largest Middle Eastern acquisitions of a European company and aligns with ADNOC's strategic expansion into chemical production. Covestro's CEO anticipates the takeover to be completed in the second half of next year, with no significant changes expected to the company's governance structure post-acquisition. He also noted that the duration of the investment agreement is considerably longer than typical for such transactions.
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Yes • 50%
No • 50%
Bid Accepted • 33%
Bid Rejected • 33%
Bid Withdrawn • 34%
Significant layoffs • 25%
No significant changes • 25%
Expansion of workforce • 25%
Other • 25%
Regulatory approval issues • 25%
Financing difficulties • 25%
Legal challenges • 25%
Other • 25%
Increased market share in chemicals • 25%
Technological advancements • 25%
Geographic expansion • 25%
Cost synergies • 25%
Yes • 50%
No • 50%