Chemicals and coatings giant BASF AG (Ludwigshafen, Germany) is reported to be close to a deal to acquire Cognis (Monheim, Germany), with a purchase price put at approximately 3 billion euros (about $4.03 billion) in news reports in Europe.
Cognis is a manufacturer of additives for various industrial markets, including coatings. The company is owned by the private-equity firms Permira and Goldman Sachs Capital Partners.
Various news reports in Europe suggested that an announcement on the acquisition could come next week. The companies have declined to comment, the reports said.
Earlier news reports suggested that U.S.-based Lubrizol Corp. also had made an overture for Cognis.