Deals Rumor Mill: Sinochem, OAO Rosneft, Xella

By Benjamin Horney (October 14, 2016, 3:58 PM EDT) -- Two Chinese state-controlled chemical companies, Sinochem Group and ChemChina, are in talks to merge, Reuters reported on Friday, in a combination that would create a single chemicals, fertilizer and oil mammoth with nearly $100 billion in annual revenue. According to the report, China's central government has already proposed the potential merger as part of a plan to reduce the number of state-owned companies and instead create larger companies that can be more competitive in the global landscape. Due diligence has begun, the report noted, but it is still too early to tell whether a deal will get done....

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