Involved in sales talks / Acquisition by Ashland? / e-business swallows up locations
The company has been approached by various parties and could potentially be the subject of a takeover bid, was the response from the world´s fourth-biggest chemicals distributor Ellis & Everard plc (GB-Bradford, West Yorkshire, BD1 5BD) following stock-exchange rumours. The company´s European polymer division is the eminent plastics distributor Distrupol (GB-Chertsey, Surrey KT16 9AL).

As reported in the “Financial Times”, sales talks are also underway with different parties, including companies with a purely financial orientation, as well as strategic investors. American firms, in particular, are interested in acquiring the company, including Ashland, the world´s biggest chemicals distributor. According to London analysts, the key attractions lie firstly in the access that would be gained to the European market and, secondly, in Ellis & Everard´s e-business activities. The company is currently engaged in a comprehensive switch to e-commerce. Almost half its marketing offices in the UK are to disappear. Four have already closed and two more are on the verge of closing. The analysts are expecting a takeover volume of GBP 250m (some EUR 425m).
02.11.2000 Plasteurope.com [17091]
Published on 02.11.2000

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