Germany's Lanxess prepares joint bid for DSM's plastics unit -Handelsblatt

BERLIN – German chemicals maker Lanxess is preparing a joint bid for Dutch rival DSM’s plastics business with investor Advent, Handelsblatt newspaper reported on Friday, citing sources familiar with the matter.

The DSM unit, valued at 3 billion euros ($3.34 billion), would become part of Lanxess’ subsidiary HPM which combines similar business activities and is intended to become a basis for further acquisitions, Handelsblatt reported.

Lanxess declined to comment on the report.

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