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LafargeHolcim Decides Against Bid for BASF Unit

  • BASF was seeking more than $3.3 billion for chemicals unit
  • Swiss cement maker had been competing with buyout firm Cinven

Photographer: Thomas Samson/AFP via Getty Images

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LafargeHolcim Ltd. decided against bidding for BASF SE’s construction chemicals unit, according to people familiar with the matter, dropping a plan that would have taken the Swiss cement giant further into the production of more specialized materials.

LafargeHolcim was the last strategic suitor pursuing the business that makes additives because of BASF’s valuation expectations, said the people, who asked not to be identified because the information is private.