International.
German chemical company BASF intends to block the merger plans of DuPont and Dow Chemical, Bloomberg reported last weekend.
If the move is confirmed, it would end with a previous agreement in which $110 billion is committed. BASF hired Deutsche Bank and Citigroup to analyze the offering, but there is little chance of this happening. Executives of the German firm are cautious with the issue and confirmed that some insinuations were made but never a concrete offer.
BASF is said to have had this in mind since December 2015, which means that it was prior to the agreement between Dow and DuPont, however, the talks between the latter two are very advanced and BASF would also have to take on regulatory issues such as antitrust, in addition to paying a fine of about US $ 1,900 million.
DuPont shares rose 5% in trading after closing the New York Stock Exchange, and following BASF's announcement to participate in its acquisition.
