|Bid||57.22 x 0|
|Ask||57.30 x 0|
|Day's Range||54.86 - 55.68|
|52 Week Range||39.58 - 71.24|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Germany's Lanxess said on Thursday weak demand from Chinese automakers for its plastics business, offset by a better outlook for agrochemical ingredients, would lead to flat operating earnings this year. Lanxess said it had seen a solid start to the year despite a weakening economy, predicting earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-offs, for 2019 to be around last year's 1.02 billion euros (871.1 million pounds), which was up almost 10 percent on 2017. Analysts at Credit Suisse said a change in international accounting standards was flattering the guidance.
Macquarie has emerged as the leading bidder for Bayer's 60 percent stake in chemical park operator Currenta, which the German drugmaker has put on the block to reduce its debt pile, people close to the matter said. Talks between Bayer and the Australian bank's Macquarie Infrastructure and Real Assets (MIRA) arm will likely continue for a few more weeks and the deal could still fall apart given the complexity of the negotiations, they added. If no deal emerges, Bayer may fall back on runner-ups DWS and KKR, the sources said, adding that it was unclear whether the Ontario Municipal Employees Retirement System, which also made a final bid in January, was still interested.
German prosecutors are pressing criminal charges against a former employee of chemicals maker Lanxess for allegedly stealing trade secrets to set up a Chinese copycat chemical reactor. State prosecutors in the city of Cologne, where the company is headquartered, told Reuters they had brought criminal charges in June against a Chinese-born German national based on a complaint filed with police by Lanxess about two years ago. There have been several reports in Germany of manufacturers with operations in China catching local staff doing work for copycat rivals.
Standard Lithium Ltd said on Monday it had signed an agreement with Lanxess AG to build a pilot plant that will process lithium from Arkansas brine, part of an ongoing study on whether to develop a joint venture to produce the white metal. The pair aim to eventually produce lithium - a key component of electric car batteries - on a mass scale from brine that is a byproduct of existing bromine production facilities run by Lanxess in the southern state. The lithium production process would be different from the evaporation ponds typically used in Chile and elsewhere to produce the metal.
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Lanxess (LXSG.DE) Chief Executive Matthias Zachert is not available to become CEO of Thyssenkrupp (TKAG.DE), a source familiar with the matter said, ending speculation that he could replace interim CEO Guido Kerkhoff. Zachert, who was seen as a potential candidate for the CEO job at the German conglomerate, had only in May renewed his contract at Lanxess until 2024. Zachert has been CEO of Lanxess since April 2014.
Lanxess Chief Executive Matthias Zachert is not available to become CEO of Thyssenkrupp, a source familiar with the matter said, ending speculation that he could replace interim CEO Guido Kerkhoff. Zachert, who was seen as a potential candidate for the CEO job at the German conglomerate, had only in May renewed his contract at Lanxess until 2024. Zachert has been CEO of Lanxess since April 2014.
Moody's Investors Service, ("Moody's") today upgraded the issuer and senior unsecured bond ratings of Lanxess AG ("Lanxess") to Baa2 from Baa3, and its senior unsecured MTN programme rating to (P)Baa2 from (P)Baa3. Concurrently, Moody's upgraded the rating of Lanxess' hybrid notes to Ba1 from Ba2.
(Adds Prudential Plc, Yandex, Shenzhen Energy, Fox, Starwood, Lanxess; Updates HNA Group) Aug 8 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1500 GMT on Wednesday: ...
DUBAI, United Arab Emirates (AP) — Oil giant Saudi Aramco says it will buy out the other 50-percent stake in a joint chemical venture in the Netherlands in a deal valued at 1.5 billion euros, or $1.7 billion.
Matthias Zachert, chief executive officer at Lanxess, discusses the deal to sell the remaining 50 percent stake of a synthetic-joint venture to Saudi Aramco for $1.6 billion. He speaks on "Bloomberg ...
Germany's Lanxess (LXSG.DE) raised its forecast for full-year earnings after higher product prices and cost cuts linked to the takeover of specialty additives maker Chemtura bolstered second-quarter results. Second-quarter adjusted EBITDA gained 3.6 percent to 290 million euros ($338 million), broadly in line with an average analyst forecast for 288 million euros in a Reuters poll. Lanxess for the first time excluded contributions from its stake in Arlanxeo, the synthetic-rubber joint venture set up with Saudi Aramco in 2016, from in quarterly group figures.