Leading food starch firm National Starch could be up for a change in ownership, following news of a possible takeover of its parent company Imperial Chemical Industries (ICI).
Great Britain-based ICI, which is active in the coatings, adhesives, starch and polymer industries worldwide, earlier this month received a takeover proposal from the coatings and chemical firm Akzo Nobel.
According to an ICI spokesperson, the group's board is recommending that shareholders accept the offer, which could mean that the company changes hands as early as December 2007.
The proposed acquisition would see Amsterdam-based Akzo Nobel handing out $16bn for ICI. The group also agreed that if the transaction goes through it will sell two of National Starch's non-food businesses (Adhesives and Electronic Materials) to the German adhesives firm Henkel for around $5.4bn.
The remaining two National Starch businesses - Specialty Starch and Specialty Polymers - would remain part of Akzo Nobel.
Great Britain-based ICI, which is active in the coatings, adhesives, starch and polymer industries worldwide, earlier this month received a takeover proposal from the coatings and chemical firm Akzo Nobel.
According to an ICI spokesperson, the group's board is recommending that shareholders accept the offer, which could mean that the company changes hands as early as December 2007.
The proposed acquisition would see Amsterdam-based Akzo Nobel handing out $16bn for ICI. The group also agreed that if the transaction goes through it will sell two of National Starch's non-food businesses (Adhesives and Electronic Materials) to the German adhesives firm Henkel for around $5.4bn.
The remaining two National Starch businesses - Specialty Starch and Specialty Polymers - would remain part of Akzo Nobel.
