Henkel has signed exclusivity agreement with Akzo Nobel
Henkel has signed an exclusivity agreement with Akzo Nobel. At the same time Henkel and Akzo Nobel have negotiated an agreement about a back-to-back transaction, the signing of which is still pending. Under the terms of such agreement Henkel would buy the adhesives and electronic materials businesses of National Starch, a subsidiary company of ICI, in the case of a take-over of ICI by Akzo Nobel. If however a formal offer will be made by Akzo Nobel or a successful takeover of ICI by Akzo Nobel will be realized respectively, is presently still open.
Ulrich Lehner, Chairman of the Management Board of Henkel, comments on the planned acquisition: "The acquisition would be a very good opportunity for us to further strengthen our Adhesives Technologies business sector. The businesses we want to acquire are high-growth operations and would enjoy exceptional geographical and technological complementarity with Henkel’s existing portfolio. I am confident that, with this acquisition, we would be able to realize significant synergies and create substantial value for our shareholders. If how-ever such an acquisition, which is subject to the takeover of ICI by Akzo Nobel, will be realized, cannot be forecast at this moment.”