Specialty chemicals company Celanese Corp is nearing a deal to buy DuPont de Nemours Inc’s mobility and materials unit for more than $10 billion, Bloomberg News reported on Thursday, citing people familiar with the matter.
DuPont’s mobility and materials division, which makes products ranging from heat-resistant car engine covers to structural adhesives, generated about 30% of the company’s annual sales reported earlier this month.
DuPont, once part of the erstwhile chemical giant DowDuPont, has been simplifying its portfolio. It has separated its nutrition and biosciences business, agreed to divest two other businesses, and struck a deal to buy Laird Performance Materials for $2.3 billion in July.
Read more: Reuters
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