Apollo Weighs Deal for $10 Billion Plastics Firm Covestro
- German plastics maker contacted by buyout firm in recent weeks
- Former Bayer unit has seen heavy share fall since 2018 peak
Photographer: James MacDonald/Bloomberg
This article is for subscribers only.
Apollo Global Management Inc., the buyout firm led by billionaire Leon Black, is exploring a takeover of German plastics maker Covestro AG, according to people with knowledge of the matter.
The New York-based investment firm contacted Covestro in recent weeks, said the people, who asked not to be identified as the information is private. Shares of the Leverkusen-based company jumped as much as 9.5% at the open of trading in Frankfurt.