Chemical maker Covestro said Monday that it entered "concrete negotiations" with Emirati national energy firm ADNOC after the German group received a takeover offer worth nearly 12 billion euros ($12.8 billion). It said the "starting point" for talks was a "possible offer price" of 62 euros per share from ADNOC. This would value Covestro at 11.72 billion euros, according to an AFP calculation.
