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BASF Reportedly Weighing Cognis Deal

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By: Sean Moloughney

Editor, Nutraceuticals World

Germany-based BASF could complete a deal to purchase Cognis GmbH for as much as $4 billion (€3 billion), according to media reports.

On Monday the Wall Street Journal reported that BASF had won a bid for its smaller rival over the weekend, contending with Lubrizol. Public confirmation of the deal could come this week, however, there’s still a chance it could be called off at the last minute.

Cognis had considered a similar plan in 2006 but pulled back before considering a sale or an IPO earlier this year. Cognis earned €25 million on sales of €2.58 billion in 2009. BASF totaled revenue of €50.7 billion.

In other business news, Corn Products International, Westcheste, IL, has paid $1.3 billion to buy National Starch from chemicals maker Akzo Nobel.

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