LEVERKUSEN (dpa-AFX) - Talks on a possible takeover of the chemicals group Covestro by Abu Dhabi National Oil (Adnoc) continue to drag on. "We are conducting these talks in a constructive and open-minded manner in accordance with our obligations under stock corporation law - and in the interests of our company, our shareholders and all other stakeholders," said Covestro CEO Markus Steilemann on Wednesday at the Annual General Meeting of the DAX-listed company from Leverkusen. Key points relating to the talks with the oil company from the United Arab Emirates thus remain open.

Speculation about a deal arose almost a year ago. It was only in September that Covestro announced that it was in talks with Adnoc. After several rumored increases in the offer, an informal offer of just over EUR 60 per share has been in the air for some time. The Bloomberg news agency reported on this sum in February, citing people familiar with the matter. In total, this would be more than 11.3 billion euros.

Covestro shares initially benefited from speculation about interest from the golf group. In June 2023, its price jumped by around a quarter to around 50 euros. The bottom line is that not much has happened since then. Investors are concerned that the share price will fall again significantly if negotiations with the state-owned company fail, despite the recent slight improvement in the outlook for the chemical industry./mis/stw/jha/