Is Hoechst After Marion Merrell Dow?
Despite "no comment" answers from Germany's Hoechst and US-based Marion Merrell Dow, speculation and rumor abound that the two are in talks for the acquisition of, or a controlling stake in MMD.
The latter is 71%-owned by Dow Chemical, which has reportedly said that it would not rule out the sale of its stake in the company. And MMD, which has recently reported a downturn in earnings, despite higher sales for 1994 (Marketletter January 3) declared some months ago that it is looking for "strategic alternatives," and would consider a sale.
According to the Wall Street Journal, Hoechst has been in discussions with MMD, and "people familiar with the talks" say these are continuing, though no major move is likely ahead of the group's management board meeting in March.
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