Abstract
AKZO NOBEL HAS made an official offer to acquire the U.K. specialty chemical company ICI. After spurning earlier overtures from the Dutch firm, I d ' s board of directors has agreed to the deal and recommended that shareholders accept it. ICI is the last major British-owned chemical company and at one time was the bellwether of British industry. With the agreement, announced at a press conference on Aug. 13, ICI will be folded into its Netherlands- based rival. There is a poetic nature to the deal, as family ties rebind. ICI was formed 81 years ago through the merger of four British producers of alkali chemicals, explosives, and dyestuffs. One of them was Industries, the explosives company founded by Alfred in 1871. And the Nobel of Akzo is a legacy of various chemical operations founded by the Swedish inventor in the 1880s and acquired by Akzo in 1994. ...
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