Deals
Adnoc, Apollo Offer $7.6 Billion for Brazil’s Braskem
- Discussions on a deal are still in early stages, people said
- The company surged the most on record after the news
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Braskem SA, one of the world’s top petrochemicals makers, received an offer of as much as 37.5 billion reais ($7.6 billion) from Abu Dhabi National Oil Co. and Apollo Global Management, according to people familiar with the matter.
Discussions are still in early stages, according to the people, who requested anonymity to discuss the confidential matter. One of them said the offer was non-binding.