Lanxess says no rival bidder likely to better its offer for Chemtura

FRANKFURT German chemical maker Lanxess (LXSG.DE) said on Monday it was confident that no rival bidder would trump its $2.7 billion takeover offer for U.S. peer Chemtura (CHMT.N).

“Chemtura’s business is currently benefiting from clear advantages from raw materials, that’s why we regard the price that we will pay as a really fair value,” Chief Executive Matthias Zachert told journalists during a conference call.

“We don’t believe that there are other (bidders) that have such clear synergy potential as we do.”

“We can’t rule out rival bidders, that will become clear over the next few days,” Zachert said.

(Reporting by Ludwig Burger- Editing by Tina Bellon and Louise Heavens)