Arkema makes $2.2bn bid for adhesives maker

摘要

Arkema SA recently made a 1.74 billion-euro ($2.2 billion) offer for Bostik, the adhesives business of Total SA, the French oil and gas giant. Arkema itself was spun off from Total SA in 2004 and now plans to carry out a rights offering to raise 350 million euros to help fund the transaction, while lining up additional financing. The company plans to take advantage of the growing demand for the Bostik glue brand used in homes and at construction sites.