Pharma Industry
Industry: Email Alert RSS FeedRhodia Okays A&W Buy After FTC Approves It.(Company Business and Marketing)(Brief Article)
Chemical Market Reporter, November, 1999
ON OCTOBER 25, Rhodia's board authorized Jean-Pierre Tirouflet, the company's chairman and CEO, to exercise the call option on Danube Chemicals Acquisition Corporation, a parent company of Albright & Wilson, once Rhodia receives Federal Trade Commission approval for the acquisition. The European Commission sanctioned the deal on July 13.
Rhodia has the right to exercise the call option, in conjunction with the takeover bid initiated for Albright & Wilson last April by Danube Chemicals, a subsidiary of Donau Chemie. Rhodia says the Albright & Wilson transaction is in line with its strategy of focusing on specialty chemical businesses that have global leadership potential. When Rhodia exercises its purchase option, it will become the world's largest...
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