NEW YORK (dpa-AFX) - According to insiders, the takeover talks between Adnoc and the plastics group Covestro, which have probably been faltering for some time, have started to move again. The state-owned oil company Abu Dhabi National Oil (Adnoc) has received more detailed information about the Leverkusen-based company's business and was able to raise its informal offer to just over 60 euros per share, the Bloomberg news agency reported on Thursday, citing people familiar with the matter. Shortly before Christmas, Bloomberg had reported an offer of 60 euros per share, which would value the DAX-listed company at around 11.3 billion. The Covestro share price rose significantly, most recently by 4.4 percent to 49.65 euros.

Hopes of a takeover have been a key driver of the share price since the first speculation about it in June. It was only in September that Covestro announced that it was in talks with Adnoc - the share price subsequently rose to around EUR 54, after the shares had cost less than EUR 40 in mid-June. Since the announcement in September, however, there has been a virtual silence. As a result, takeover fantasies gradually disappeared from the share price - until the Bloomberg report in December, which pushed the shares back above EUR 54. However, due to a lack of news, the price has fallen again since then./mis/he