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BASF Supervisory Board Approves Cognis Bid, FT Deutschland Says

BASF SE’s supervisory board has approved a bid for Cognis GmbH, the Financial Times Deutschland newspaper reported today, citing unidentified company officials.

BASF is likely to make an offer to buy the closely held chemical maker “in coming days,” the FTD said, without being more specific.

BASF is preparing a bid worth about 3 billion euros, two people with knowledge of the situation told Bloomberg News last month.

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