Covestro holding out for EURO 70 a share from Adnoc, claims Handelsblatt

Adnoc's EURO 11 billion plus tilt at German chemicals company Covestro is starting to feel a lot like the big ticket summer football (soccer) player transfers you read about on the back pages of newspapers.

According to German rag Handelsblatt, Covestro's board is now holding out for a formal offer of EURO 70 a share before it's willing to enter into official negotations with the Abu Dhabi-based oil group...