Adnoc Said Prepared to Boost Covestro Bid to Nearly €12 Billion

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Abu Dhabi National Oil Co. has formally told Covestro AG it’s prepared to boost its takeover bid for the German chemical company to about €11.7 billion ($12.5 billion), moving a step closer to what could be the energy giant’s biggest-ever deal, people with knowledge of the matter said.

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Ex-Banker Leading Adnoc’s M&A Push Says Deal Spree Will ContinueAbu Dhabi National Oil Co., the state oil giant that underpins the United Arab Emirates’s booming economy, has become one of the energy industry’s busiest dealmakers as it looks to go global.
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Abu Dhabi’s Adnoc Greenlights Its Biggest LNG Export TerminalThe United Arab Emirates’s biggest energy company approved a major liquefied natural gas export terminal as it seeks to tap into a growing global market for the fuel.
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