ADNOC said the additional acceptance period would start on Tuesday, allowing Covestro shareholders to accept the offer until Dec. 16
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Abu Dhabi's ADNOC on Monday said its $16.3 billion takeover offer for German chemicals maker Covestro 1COV.DE exceeded the minimum acceptance threshold and reached around 70% as of Nov. 27.
ADNOC said the additional acceptance period would start on Tuesday, allowing Covestro shareholders to accept the offer until Dec. 16. It said the transaction is expected to close in the second half of 2025.
(Reporting by Bartosz Dabrowski in Gdansk, Editing by Friederike Heine)
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