German Firm Buys Celanese
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Associated Press
SOMERVILLE, N.J. — Celanese Corp., a leading U.S. producer of fibers, chemicals and plastics, said today it agreed to be acquired for $2.85 billion by Hoechst AG of West Germany.
Hoechst, which operates in the same industries as Celanese, said the agreement called for its American Hoechst Corp. subsidiary to make the acquisition with a tender offer of $245 for each of Celanese’s 11.63 million common shares outstanding.
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